Farmers Insurance

Major U.S. insurer providing auto, home, and commercial coverage through an exclusive independent agent network and backed by Zurich Insurance.

Historical Timeline

• 1928 — Founded in Los Angeles by farmers for farmers
• 1950s — Expands into auto and home insurance
• 1980s — B.A.T. Industries (UK) acquires Farmers
• 1998 — Zurich Financial Services acquires Farmers
• 2000s — 'We know a thing or two' advertising campaign
• 2024 — Continues as top-5 U.S. property/casualty insurer

Business Model

Property/casualty insurance: auto, home, commercial, and life. Distributed through independent agents (exclusive to Farmers). Revenue from premiums and investment income.

Competitive Moat

Independent agent network provides local market knowledge and customer relationships. Zurich Financial Services' global scale provides reinsurance and investment advantages.

Key Data

Founded: 1928; HQ: Los Angeles; Parent: Zurich Insurance Group; Top-5 U.S. P&C insurer

Interesting Facts

Farmers was originally founded by a group of California farmers who wanted to insure each other's crops and property. The 'We know a thing or two because we've seen a thing or two' campaign is one of the most recognizable in insurance.