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Farmers Completes Acquisition of MetLife Auto & Home Business for $3.9 Billion


Farmers Completes Acquisition of MetLife Auto & Home Business for $3.9 Billion
April 8, 2021
Zurich Insurance and Farmers Exchanges have closed on buying MetLife’s U.S. property/casualty business for $3.94 billion.
The business acquired includes 2.4 million MetLife Auto & Home policies, $3.6 billion of net written premiums (2019) and 3,500 employees, according to Zurich.
The deal provides the Farmers brand an opportunity to gain more of a national presence and strengthen its position a major personal lines carriers in the U.S.
Jeff Dailey, chief executive officer for Farmers Group, called the deal a “milestone” in his company’s nearly 100-year history. He said Farmers-branded products will now be available nationwide, “providing consumers from coast to coast with more choices and opportunities to engage with Farmers when shopping for auto and home coverage.” ....

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The Farmers Exchanges and Farmers Group, Inc. (FGI) Close Acquisition of MetLife Auto & Home Property and Casualty Business


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WOODLAND HILLS, Calif., April 7, 2021 /PRNewswire/ The Farmers Exchanges and Farmers Group, Inc. (FGI) today announced they have jointly completed the acquisition of MetLife s property and casualty business (MetLife Auto & Home) for a purchase price of $3.94 billion as of April 7, assuming responsibility for 2.4 million policies in force. The closure provides the Farmers brand significant opportunity to expand its customer reach with a truly national presence, grow its core property and casualty business and strengthen its position as one of the leading personal lines carriers in the United States. 
Farmers Insurance Logo. (PRNewsFoto/Farmers Insurance) ....

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The Farmers Exchanges and Farmers Group, Inc. (FGI) Close Acquisition of MetLife Auto & Home Property and Casualty Business

Farmers Insurance Returning to Louisiana


Farmers Insurance Returning to Louisiana
March 10, 2021
Louisiana insurance regulators have approved rate and form filings for Farmers Insurance in advance of California-based insurer’s re-entry into the Louisiana market.
The Louisiana Department of Insurance reported that Farmers is returning to the Louisiana market in March with auto, homeowners, condo and renters insurance.
Farmers began selling homeowners policies in Louisiana in 1999. Its market share in Louisiana peaked in 2007 when it became the seventh largest homeowners insurer in the state with 4.1% of the state’s policies and $56.2 million in direct written premium. But the insurance group began shedding policies in the difficult market after Hurricane Katrina and exited in 2014, leaving only a subsidiary, Foremost Insurance Co., doing residential property business in Louisiana. ....

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