Investments
6Portfolio Exits
3Partners & Customers
10About Farmers Insurance Group
Farmers Insurance Group (Farmers) provides insurance and financial products and services. Its product includes auto insurance, home insurance, umbrella insurance, vacation home insurance, motor home insurance, and boat insurance. Additionally, the group offers three types of life insurance such as term life insurance, whole life insurance, and universal life insurance. The company was founded in 1928 and is based in Woodland Hills, California.
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Expert Collections containing Farmers Insurance Group
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Insurtech
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2020 Top 25 US P&C Insurers based on Gross Written Premiums in 2019, per NAIC
Research containing Farmers Insurance Group
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CB Insights Intelligence Analysts have mentioned Farmers Insurance Group in 1 CB Insights research brief, most recently on Jun 24, 2020.
Latest Farmers Insurance Group News
May 18, 2023
Reinsurance News Resolution Life US Holdings Inc. (Resolution Life), a subsidiary of Resolution Life Group Holdings Limited, has announced a strategic reinsurance agreement with Farmers New World Life Insurance Company (FNWL), the life insurance subsidiary of Farmers Group, Inc. The strategic transaction aims to bolster Resolution Life’s position as a global leader in managing in-force life insurance businesses. Under the terms of the agreement, FNWL will transfer its existing individual life insurance business to Resolution Life’s insurance subsidiary, Security Life of Denver Insurance Company (SLD). Resolution Life will assume responsibility for administering the reinsured policies, with certain operational functions moving to their platform. Furthermore, SLD will enter into a flow reinsurance treaty to reinsure future individual life business, effective upon the completion of the transaction. Resolution Life has entered into a partnership with Swiss Re, which will retrocede all of the reinsured term life insurance liabilities. This collaboration strengthens Resolution Life’s capabilities and ensures a seamless transition for policyholders. Conor Murphy, the Chief Executive Officer of Resolution Life US, expressed enthusiasm for the transaction, highlighting its significance in expanding their in-force life and annuity management globally. He emphasized the company’s operational and administrative expertise, emphasizing their commitment to maintaining a high level of customer service for policyholders. Warren Balakrishnan, Chief Strategy and Development Officer at Resolution Life US, added: “Resolution Life has designed a bespoke solution to meet the objectives of all stakeholders: delivering value, with a compelling life insurance proposition for Farmers New World Life’s customer base and distribution. We look forward to working closely with Farmers New World Life.” The transaction, subject to closing conditions and regulatory approval requirements, is anticipated to be finalized in 2023. Resolution Life’s choice of financial advisor was Morgan Stanley, while Sidley Austin LLP served as legal counsel throughout the transaction. Share this:
Farmers Insurance Group Investments
6 Investments
Farmers Insurance Group has made 6 investments. Their latest investment was in Jetty as part of their Series C on September 9, 2021.
Farmers Insurance Group Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
9/7/2021 | Series C | Jetty | $23M | No | Citibank, CreditEase, Farmers Insurance Group, Flourish Ventures, K5 Ventures, Khosla Ventures, Ribbit Capital, and Undisclosed Investors | 10 |
1/27/2021 | Corporate Minority | |||||
3/3/2020 | Series B | |||||
11/20/2018 | Series A - II | |||||
2/20/2001 | Unattributed VC - II |
Date | 9/7/2021 | 1/27/2021 | 3/3/2020 | 11/20/2018 | 2/20/2001 |
|---|---|---|---|---|---|
Round | Series C | Corporate Minority | Series B | Series A - II | Unattributed VC - II |
Company | Jetty | ||||
Amount | $23M | ||||
New? | No | ||||
Co-Investors | Citibank, CreditEase, Farmers Insurance Group, Flourish Ventures, K5 Ventures, Khosla Ventures, Ribbit Capital, and Undisclosed Investors | ||||
Sources | 10 |
Farmers Insurance Group Portfolio Exits
3 Portfolio Exits
Farmers Insurance Group has 3 portfolio exits. Their latest portfolio exit was Farmers Insurance Group - Individual Life Insurance Business on May 17, 2023.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
|---|---|---|---|---|---|
5/17/2023 | Divestiture | Farmers Insurance Group - Individual Life Insurance Business | 1 | ||
Date | 5/17/2023 | ||
|---|---|---|---|
Exit | Divestiture | ||
Companies | Farmers Insurance Group - Individual Life Insurance Business | ||
Valuation | |||
Acquirer | |||
Sources | 1 |
Farmers Insurance Group Acquisitions
1 Acquisition
Farmers Insurance Group acquired 1 company. Their latest acquisition was MetLife - Property and Casualty Business on December 11, 2020.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
|---|---|---|---|---|---|---|
12/11/2020 | Acquired Unit | 7 |
Date | 12/11/2020 |
|---|---|
Investment Stage | |
Companies | |
Valuation | |
Total Funding | |
Note | Acquired Unit |
Sources | 7 |
Farmers Insurance Group Partners & Customers
10 Partners and customers
Farmers Insurance Group has 10 strategic partners and customers. Farmers Insurance Group recently partnered with United States Bowling Congress on March 3, 2023.
Date | Type | Business Partner | Country | News Snippet | Sources |
|---|---|---|---|---|---|
3/15/2023 | Sponsored | United States | The United States Bowling Congress announced a new partnership with Farmers Insurance , which will become the official insurance carrier of USBC . | 1 | |
3/15/2023 | Partner | United States | USBC launches collaboration with Farmers Insurance ARLINGTON , Texas -- The United States Bowling Congress announces a new relationship with Farmers Insurance ® as the official insurance carrier of USBC . | 1 | |
2/24/2022 | Partner | United States | By: Oriol Brull February 24, 2022. USA Cycling Collaborates With Farmers Insurance as… USA Cycling announces today their relationship with Farmers Insurance as their Official Insurance Carrier . | 1 | |
11/10/2021 | Vendor | ||||
8/25/2021 | Partner |
Date | 3/15/2023 | 3/15/2023 | 2/24/2022 | 11/10/2021 | 8/25/2021 |
|---|---|---|---|---|---|
Type | Sponsored | Partner | Partner | Vendor | Partner |
Business Partner | |||||
Country | United States | United States | United States | ||
News Snippet | The United States Bowling Congress announced a new partnership with Farmers Insurance , which will become the official insurance carrier of USBC . | USBC launches collaboration with Farmers Insurance ARLINGTON , Texas -- The United States Bowling Congress announces a new relationship with Farmers Insurance ® as the official insurance carrier of USBC . | By: Oriol Brull February 24, 2022. USA Cycling Collaborates With Farmers Insurance as… USA Cycling announces today their relationship with Farmers Insurance as their Official Insurance Carrier . | ||
Sources | 1 | 1 | 1 |
Farmers Insurance Group Team
26 Team Members
Farmers Insurance Group has 26 team members, including current Chief Executive Officer, Raul Vargas.
Name | Work History | Title | Status |
|---|---|---|---|
Raul Vargas | Chief Executive Officer | Current | |
Name | Raul Vargas | ||||
|---|---|---|---|---|---|
Work History | |||||
Title | Chief Executive Officer | ||||
Status | Current |
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