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Posted on 4422 Zurich Insurance Group subsidiary Farmers Group, Inc. has announced plan to acquire MetLife’s property and casualty business in the United States with the Farmers Exchanges for USD 3.94 Billion.  Zurich will add USD 2.43 Billion through FGI and the Farmers Exchanges USD 1.51 Billion.  Farmers Exchanges will benefit by having a nationwide presence and access to new distribution channels with the potential to accelerate growth.  Including a 10-year exclusive distribution agreement where Farmers Exchanges will offe...

Share this article Share this article WOODLAND HILLS, Calif., Dec. 11, 2020 /PRNewswire/ -- The Farmers Exchanges and Farmers Group, Inc. (FGI) have announced they will jointly acquire MetLife's property and casualty business (MetLife Auto & Home). Completion of the transaction is subject to regulatory approvals and is anticipated to occur in the second quarter of 2021. Farmers Insurance Logo. (PRNewsFoto/Farmers Insurance) As part of the transaction, the Farmers Exchanges are entering into a 10-year exclusive distribution agreement with MetLife, the leading group benefits company in the Un...

Swiss insurer expects the transaction to strengthen its ability to achieve its 2022 targets.