State Farm Net Worth, Wiki, History (Updated)

State Farm Insurance maintains a large network of mutual insurance companies across the United States and is headquartered in Bloomington, Illinois.

Company nameState Farm
Company based onInsurance
State farm headquartersBloomington, Illinois, United States
Founded byGeorge J. Mecherle
Founded inJune 7, 1922
SuccessorDesjardins Insurance (Canada)
State Farm Net Worth$143.2 billion (Last Updated 2022)

State Farm Net Worth

According to State Farm Mutual Automobile Insurance Company’s financial statements, its net worth is $143.2 billion.

State Farm History

George J. Mecherle, a retired farmer, founded State Farm as a mutual automobile insurance company in June 1922.

In the beginning, the company provided auto insurance to farmers, before expanding into other insurance products, including homeowners’ insurance, life insurance, and eventually financial services.

State Farm Mutual Automobile Insurance Company’s chairman and CEO is Michael L. Tipsord.

State Farm Overview

The State Farm Company has the biggest property and casualty insurance portfolio, as well as the largest automobile insurance business, in the U.S.

State Farm ranks 36th on the Fortune 500 list, which ranks American companies according to their revenue.

When it comes to selling insurance, State Farm works with exclusive agents (also referred to as captive agents).

State Farm products can only be sold by State Farm agents. Also, State Farm agents cannot sell other products.