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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

The Farmers Exchanges and Farmers Group, Inc. (FGI) Close Acquisition of MetLife Auto & Home Property and Casualty Business
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.

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