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Farmers Insurance Acquisition of 21st Century Insurance Finalized

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FARMERS INSURANCE;
Farmers Insurance Acquisition of 21st Century Insurance Finalized

SECTION: EXPANDED REPORTING; Pg. 15

LENGTH: 725 words

The Farmers Insurance Group of Companies(R) announced that it has completed the acquisition of 100 percent of AIG's U.S. Personal Auto Group, which includes 21st Century Insurance. In addition to 21st Century Insurance, the acquisition includes the former AIG Direct business and Agency Auto business. The purchase price amounts to approximately $1.9 billion.

Under the agreement, AIG's U.S. personal auto insurance business is being sold to Farmers Group, Inc., a Los Angeles-based subsidiary of Zurich Financial Services Group. Farmers Group, Inc. will sell the underlying insurance entities to the Farmers Exchanges, which Farmers Group, Inc. manages but does not own, for approximately $1.4 billion.

This acquisition by the Farmers Exchanges strengthens Farmers' place as the 3rd largest personal lines insurer in the US. And, the acquisition positions the Farmers Exchanges as the largest auto insurer in several states, including California. The acquisition is the largest in the 81-year history of Farmers.

The acquired companies operate in 49 states and Washington, D.C.; have more that 2.4 million customers; and insure more than 4 million vehicles in the US. Further, 21st Century Insurance is the nation's 3rd largest traditional "direct" writer of insurance. Without including 21st Century customers, Farmers already provides auto, home, business, specialty, life insurance and financial services to 10.5 million US households.

Farmers Group, Inc. CEO F. Robert Woudstra described the acquisition as a "positive and historic milestone for Farmers, 21st Century, Farmers agents, and, most importantly, insurance consumers across the United States."

"We welcome 21st Century CEO Tony DeSantis and his highly professional and accomplished management team and employees into the Farmers family," Mr. Woudstra said. "This acquisition represents a perfect strategic business fit and will dramatically transform the insurance landscape by positioning Farmers as the leading multi-line, multi-channel insurer in the United States. Most importantly, this acquisition enables us to accommodate the shopping needs of all insurance consumers."

In addition to the positive impact on consumers, Mr. Woudstra explained, that Farmers' vast national network of insurance agents also will benefit from the acquisition. "This acquisition will enable 21st Century customers to have access to Farmers agents, who can help them with their other insurance needs, such as homeowners, business, specialty products, life insurance and financial service products," Mr. Woudstra said.

"Since our founding in 1928, Farmers has been built by thousands of loyal, passionate, customer-focused Farmers agents, district managers and employees," Mr. Woudstra said. "Farmers is strongly committed to growth, success and expansion, all of which include a strong, vibrant agency distribution system. The acquisition of 21st Century is an extension of that commitment to our agents, raising their visibility and access to the rapidly expanding network of internet shoppers."

"Research clearly shows that more and more insurance consumers are shopping, quoting and purchasing insurance products online," Mr. Woudstra said. "This addition of 21st Century will provide Farmers with a geographically broader and more diverse market presence across the country, including the eastern seaboard - a key target market for future Farmers growth." Mr. Woudstra added.

Commenting on the historical significance of the acquisition, Mr. Woudstra said, the 21 st Century acquisition, which is the largest in the 81-year history of Farmers, demonstrates the company's commitment to growth.

"When you combine this acquisition with the our other, successful, recent acquisitions and integrations of the Foremost Insurance Group in 2000 and the Bristol West Insurance Group in 2007, it's quite obvious we are committed to growing our business when it makes strategic sense to do so for the benefit of our customers, our agents and our prospective customers," concluded Mr. Woudstra.

Keywords: Farmers Insurance, Acquisitions, Finance, Financial, Financial Services, Homeowners, Insurance, Investing, Investment, Mergers, Real Estate.

This article was prepared by Mergers & Acquisitions Week editors from staff and other reports. Copyright 2009, Mergers & Acquisitions Week via VerticalNews.com.

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Minor Terms ZURICH INSURANCE GROUP LTD
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AUTOMOBILE INSURANCE INSURANCE PROPERTY & CASUALTY INSURANCE REAL ESTATE BANKING & FINANCE HOMEOWNERS INSURANCE LIFE INSURANCE
Minor Terms INSURANCE AGENCIES & BROKERAGES PERSONAL AUTOMOBILE INSURANCE MOTOR VEHICLES INTERNET RETAILING Subject EXECUTIVES HOMEOWNERS
Minor Terms ACQUISITIONS COMPANY STRATEGY CUSTOMER SERVICE Geography UNITED STATES CALIFORNIA, USA
Minor Terms DISTRICT OF COLUMBIA, USA LOS ANGELES, CA, USA

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Hide Minor Index Terms | Show Relevancy Scores |Clear Selections SUBJECT: REAL ESTATE (90%); AUTOMOBILE INSURANCE (90%); INSURANCE (90%); PROPERTY & CASUALTY INSURANCE (90%); BANKING & FINANCE (89%); LIFE INSURANCE (89%); HOMEOWNERS (89%); EXECUTIVES (89%); HOMEOWNERS INSURANCE (89%); INSURANCE AGENCIES & BROKERAGES (78%); PERSONAL AUTOMOBILE INSURANCE (78%); COMPANY STRATEGY (78%); ACQUISITIONS (78%); MOTOR VEHICLES (73%); CUSTOMER SERVICE (71%); INTERNET RETAILING (61%) Farmers Insurance; Acquisitions, Finance, Financial, Financial Services, Homeowners, Insurance, Investing, Investment, Mergers, Real Estate

COMPANY: FARMERS GROUP INC (96%); 21ST CENTURY INSURANCE GROUP (92%); ZURICH INSURANCE GROUP LTD (71%)

TICKER: ZURN (SWX) (71%)

INDUSTRY: SIC6311 LIFE INSURANCE (96%); NAICS524126 DIRECT PROPERTY & CASUALTY INSURANCE CARRIERS (92%); SIC6331 FIRE, MARINE, & CASUALTY INSURANCE (92%)

GEOGRAPHIC: LOS ANGELES, CA, USA (79%) CALIFORNIA, USA (92%); DISTRICT OF COLUMBIA, USA (79%) UNITED STATES (94%)

LOAD-DATE: July 8, 2009

LANGUAGE: ENGLISH

PUBLICATION-TYPE: Newsletter

Copyright 2009 Mergers & Acquisitions Week via VerticalNews.com

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FARMERS INSURANCE;
Farmers Insurance Announces Settlement of Class Action Lawsuit

SECTION: EXPANDED REPORTING; Pg. 321

LENGTH: 580 words

Farmers Insurance announced that it entered into a settlement of a nationwide class action lawsuit, In Re Farmers Med-Pay Litigation, pending in the District Court of Canadian County, Oklahoma (the "Court").

The settlement includes Farmers Insurance Company, Inc., Farmers Insurance Exchange, Truck Insurance Exchange, Fire Insurance Exchange, Mid-Century Insurance Company, Farmers Group, Inc., Illinois Farmers Insurance Company, and certain related entities (collectively, "Farmers"). The Court preliminarily approved the settlement on June 20, 2011.

Plaintiffs alleged that Farmers failed to pay reasonable expenses for necessary medical services related to automobile accidents under Medical Payments ("Med-pay") and Personal Injury Protection ("PIP") coverage in automobile policies based on Farmers' use of certain claim adjustment systems and procedures. Farmers denies all of Plaintiffs' claims in the lawsuit. However, Farmers agreed to resolve the lawsuit to avoid the burden and expense of continued litigation.

The Settlement Class includes all persons who submitted claims for payment of medical bills related to an automobile accident under Med-pay or PIP coverage if (a) the claim was adjusted from January 1, 2001 to February 9, 2009 based upon a recommended reduction from Zurich Services Corporation ("ZSC"), (b) the claim was paid at less than the amount billed, and © total Med-pay or PIP payments were less than the respective limits of coverage. The Class also includes medical providers who were assigned the right to assert these claims.

Individuals or medical providers with questions about the lawsuit or the settlement can visit www.MedpayClaimsAdministration.com or call 1-877-846-0588 for more information and to get a claim form. Claim forms must be postmarked by December 29, 2011. Those affected by this settlement can submit a claim for benefits or they can ask to be excluded from, or object to, the settlement and its terms. The deadline for exclusions and objections is October 29, 2011. The Court will decide whether to grant final approval of the Settlement at a Hearing currently scheduled for November 29, 2011.

Farmers Insurance Group of Companies is the country's 3rd largest insurer of both personal lines passenger automobile and homeowners insurance, and also provides a wide range of other insurance and financial services products. Farmers Insurance is proud to serve more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and nearly 24,000 employees.

Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit its Web site at www.farmers.com or at www.Facebook.com/FarmersInsurance.

Keywords: Legal Issues, Transportation, Finance and Financials, Investing and Investments. This article was prepared by Investment Weekly News editors from staff and other reports. Copyright 2011, Investment Weekly News via VerticalNews.com.

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Minor Terms ZURICH FINANCIAL SERVICES AG ILLINOIS FARMERS INSURANCE CO MID-CENTURY INSURANCE CO FARMERS INSURANCE CO OF WASHINGTON FARMERS INSURANCE EXCHANGE FIRE INSURANCE EXCHANGE TRUCK INSURANCE EXCHANGE
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LITIGATION AUTOMOBILE INSURANCE PROPERTY & CASUALTY INSURANCE INSURANCE INSURANCE POLICIES REAL ESTATE INSURANCE
Minor Terms HOMEOWNERS INSURANCE INSURANCE COVERAGE BANKING & FINANCE TRAFFIC ACCIDENTS INSURANCE AGENCIES & BROKERAGES Subject LITIGATION SUITS & CLAIMS CLASS ACTIONS SETTLEMENT & COMPROMISE HOLDING COMPANIES LAW COURTS & TRIBUNALS
Minor Terms APPROVALS PERSONAL INJURY TRAFFIC ACCIDENTS WOUNDS & INJURIES LICENSING AGREEMENTS Geography OKLAHOMA, USA UNITED STATES

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Hide Minor Index Terms | Show Relevancy Scores |Clear Selections SUBJECT: LITIGATION (95%); SUITS & CLAIMS (94%); CLASS ACTIONS (91%); SETTLEMENT & COMPROMISE (91%); PROPERTY & CASUALTY INSURANCE (90%); AUTOMOBILE INSURANCE (90%); REAL ESTATE INSURANCE (89%); INSURANCE POLICIES (89%); LAW COURTS & TRIBUNALS (89%); HOLDING COMPANIES (89%); INSURANCE (89%); HOMEOWNERS INSURANCE (78%); APPROVALS (78%); INSURANCE COVERAGE (78%); PERSONAL INJURY (78%); TRAFFIC ACCIDENTS (77%); BANKING & FINANCE (77%); WOUNDS & INJURIES (75%); INSURANCE AGENCIES & BROKERAGES (73%); LICENSING AGREEMENTS (67%) Automobiles; Farmers Insurance; Finance and Financials; Investing and Investments; Legal Issues; Transportation

COMPANY: FARMERS GROUP INC (87%); ZURICH FINANCIAL SERVICES AG (82%); MID-CENTURY INSURANCE CO (72%); ILLINOIS FARMERS INSURANCE CO (72%); FIRE INSURANCE EXCHANGE (58%); FARMERS INSURANCE EXCHANGE (58%); TRUCK INSURANCE EXCHANGE (58%); FARMERS INSURANCE CO OF WASHINGTON (58%)

TICKER: ZURN (SWX) (82%)

INDUSTRY: SIC6311 LIFE INSURANCE (87%); NAICS524126 DIRECT PROPERTY & CASUALTY INSURANCE CARRIERS (82%); SIC6331 FIRE, MARINE, & CASUALTY INSURANCE (82%)

GEOGRAPHIC: OKLAHOMA, USA (92%) UNITED STATES (92%)

LOAD-DATE: August 17, 2011

LANGUAGE: ENGLISH

PUBLICATION-TYPE: Newsletter

Copyright 2011 Investment Weekly News via VerticalNews.com
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FARMERS INSURANCE GROUP;
Farmers Insurance Claims Team Assists with More Than 1,000 Claims in Texas

SECTION: EXPANDED REPORTING; Pg. 83

LENGTH: 290 words

Farmers Insurance Group of Companies advises its Farmers Insurance and Foremost Insurance customers suffering damage from the recent storms to immediately contact their agent or call the 24-hour-claims hotline, 800-HelpPoint (1-800-435-7764) for Farmers customers and 1-800-527-3907 for Foremost customers.

As of Thursday afternoon, Farmers and Foremost Insurance combined have received more than 1200 claims from the storms in Central Texas.

"There is a tremendous amount of damage caused by this storm," said Larry Pratt, Executive Director of Farmers in Texas. "We are bringing in additional resources and as many people as needed to help our customers file claims as quickly and easily as possible."

Foremost is a part of the Farmers Insurance Group of Companies.

Farmers Group, Inc. is a wholly owned subsidiary of Zurich Financial Services, an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Farmers(R) is the nation's third-largest Personal Lines Property & Casualty insurance group. Property and casualty products are underwritten and issued by the Farmers Exchanges and their subsidiaries, which Farmers Group, Inc. manages but does not own. Headquartered in Los Angeles and doing business in 41 states, the Farmers insurers provide Homeowners, Auto, Business, Life insurance and financial services to more than 10 million households. For more information about Farmers, visit our Web site at www.farmers.com.

Keywords: Farmers Insurance Group.

This article was prepared by Insurance Weekly News editors from staff and other reports. Copyright 2008, Insurance Weekly News via VerticalNews.com.

Find Documents with Similar Topics Help Below are concepts discussed in this document. Select terms of interest and either modify your search or search within the current results set Company FARMERS GROUP INC
Minor Terms ZURICH FINANCIAL SERVICES AG
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BANKING & FINANCE INSURANCE INSURANCE CLAIMS PROPERTY & CASUALTY INSURANCE
Minor Terms LIFE INSURANCE Subject PRESS RELEASES
Minor Terms EXECUTIVES Geography TEXAS, USA UNITED STATES
Minor Terms CALIFORNIA, USA NORTH AMERICA EUROPE ASIA LATIN AMERICA

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Hide Minor Index Terms | Show Relevancy Scores |Clear Selections SUBJECT: PROPERTY & CASUALTY INSURANCE (90%); BANKING & FINANCE (90%); INSURANCE CLAIMS (90%); INSURANCE (90%); PRESS RELEASES (88%); LIFE INSURANCE (73%); EXECUTIVES (70%) Farmers Insurance Group

COMPANY: FARMERS GROUP INC (94%); ZURICH FINANCIAL SERVICES AG (56%)

TICKER: ZURN (SWX) (56%)

INDUSTRY: SIC6311 LIFE INSURANCE (94%); NAICS524126 DIRECT PROPERTY & CASUALTY INSURANCE CARRIERS (56%); SIC6331 FIRE, MARINE, & CASUALTY INSURANCE (56%)

GEOGRAPHIC: TEXAS, USA (94%); CALIFORNIA, USA (79%) UNITED STATES (94%); NORTH AMERICA (79%); EUROPE (73%); LATIN AMERICA (68%); ASIA (68%)

LOAD-DATE: November 13, 2008

LANGUAGE: ENGLISH

PUBLICATION-TYPE: Newsletter

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