The group's main business is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies.
The corporate headquarters are in Bloomington, Illinois.
State Farm is ranked 44th in the 2013 Fortune 500, which lists American companies by revenue.[6]
In 2014, the company sold its operations in Canada to the Desjardins Group, which is continuing to use the State Farm name.
State Farm was founded in 1922 by retired farmer George J. Mecherle as a mutual automobile insurance company owned by its policyholders. The firm specialized in auto insurance for farmers, and later expanded its services into other types of insurance, such as homeowners and life insurance, and to banking and financial services.
The State Farm jingle ("Like a good neighbor, State Farm is there") was written by American songwriter Barry Manilow in 1971. A cover was released by Weezer in 2011.] In the 1960s State Farm's first commercial jingle was originally created for The Jack Benny Program.[10]
As of December 2013 State Farm had 65,000 employees and 18,000 agents. February 2014 figures show the group servicing 80 million policies in the United States and Canada, of which over 44,000,000 are for automobiles, 27,000,000 are for fire, 7,000,000 for life, and more than 2 million bank accounts.
Edward B. Rust, Jr. is the chairman. Michael Tipsord is CEO of State Farm Mutual Automobile Insurance Company, and president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates.
In 2014, the company sold its operations in Canada to Desjardins Group. Canadian policies were transferred to be underwritten by Desjardins Group on January 1, 2015. The State Farm brand continues to be used for agents and marketing.
Companies
- State Farm Fire and Casualty Company
- State Farm Life Insurance Company
- State Farm Life and Accident Assurance Company (NY/CT/WI)
- State Farm County Mutual Insurance Company of Texas (TX auto)
- State Farm Mutual Insurance Company of Texas (TX preferred auto)
- State Farm Indemnity Company / State Farm Guaranty Insurance Company (NJ auto)
- State Farm General Insurance Company (CA home)
- State Farm Florida Insurance Company (FL home)
- Dover Bay Specialty Insurance Company[13]
- State Farm Lloyds (TX home/commercial)
- State Farm Bank, F.S.B.
- State Farm Investment Management Corp. (SFIMC)
- State Farm VP Management Corp. (SFVPMC)
- State Farm International Service, Inc.
- State Farm Associate's Funds Trust
- State Farm Mutual Fund Trust
- State Farm Investor Services (Canada) Co.
- State Farm Finance Corporation of Canada
- SF Insurance Placement Corporation of Canada
- Insurance Placement Services, Inc.
- State Farm International Life Insurance Company Ltd.
- Plaza One Realty Co.
- State Farm Guaranty Insurance Company
- State Farm Variable Product Trust
- Amberjack Ltd. (Real Estate)
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