STATE FARM

State Farm Insurance is a group of mutual insurance companies throughout the United States with
corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property, casualty,
and auto insurance provider in the United States.

State Farm was founded in June 1922 by retired farmer George J. Mecherle

State Farm is the largest property and casualty insurance provider, and the largest auto
insurance provider, in the United States. State Farm is ranked 42nd in the 2022 Fortune 500, which
lists American companies by revenue.

State Farm relies on exclusive agents (also known as captive agents) to sell insurance. Only State
Farm agents can sell State Farm insurance, and their agents can sell only State Farm products.

Financial services

State Farm has expanded into the financial services arena, such as banking and mutual funds.

The bank opened in May 1999 and is operated by State Farm Financial Services, FSB, a subsidiary
of State Farm Mutual Automobile Insurance Co. These are separate from its insurance products.
State Farm Bank does not have branch offices. Its regular banking services, which include checking
and savings accounts, certificates of deposit, and money market accounts, are available to
consumers countrywide via the Internet or over the phone, and through agents. Home mortgages
are available countrywide over the phone or through agents.

Type Private

Industry Insurance

Founded June 7, 1922; 101 years ago

Founder George J. Mecherle

Headquarters Bloomington, Illinois

U.S.

 Banking
Services
 Insurance
 Investing

US$79.395 billion (2019)

Revenue

Number of 57,672 (2019)

employees

Divisions Insurance; mutual funds; State Farm

Bank

Website www.statefarm.com