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Revision as of 15:08, 31 May 2005 by 66.13.11.136 (talk)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)| State Farm logo | |
| Company type | Private |
|---|---|
| Founded | 1922 |
| Headquarters | Bloomington, Illinois |
| Key people | Edward B. Rust Jr., CEO & Chairman |
| Products | Insurance, Banking, & Investing |
| Revenue | 79,400,000,000 United States dollar (2019)  |
| Number of employees | 79,000 |
| Website | www.statefarm.com |
State Farm Insurance Companies are a group of large US insurance and financial services companies started in 1922 by former farmer George J. Mecherle (pronounced Ma-herl). The corporate headquarters is in Bloomington, Illinois.
History
State Farm was started as a mutual automobile insurance company owned by its policyholders, by one George J. Mecherle. Despite the company's name, State Farm did not initially begin as a crop insurance company, such as Farmers Insurance. Specifically, State Farm specialized in auto insurance for farmers. Mecherle believed that since farmers drove less and had fewer losses than city drivers, they should pay less for insurance. His idea was popular with farmers and made his new company successful.
Since its beginnings, State Farm has branched out into offering other popular types of insurance, such as homeowners, life insurance, financial services and banking.
State Farm has grown to include 79,200 employees and more than 16,700 agents servicing 71.6 million policies in the United States and Canada.
Edward B. Rust, Jr. is chairman of the board and chief executive officer of State Farm Mutual Automobile Insurance Company, Bloomington, Ill. He is also president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company and other principal State Farm® affiliates.
Financial services
State Farm has recently begun to offer financial services, such as banking and mutual funds. These are separate from its insurance products.