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Thursday, July 2, 2009

Farmers Purchases 21st Century

LOS ANGELES, CA—(July 1, 2009) - The Farmers Insurance Group of Companies® announced today that it has completed the acquisition of 100 percent of AIG’s U.S. Personal Auto Group, which includes 21st Century Insurance. In addition to 21 st Century Insurance, the acquisition includes the former AIG Direct business and Agency Auto business. The purchase price amounts to approximately $1.9 billion.

Under the agreement, AIG’s U.S. personal auto insurance business is being sold to Farmers Group, Inc., a Los Angeles-based subsidiary of Zurich Financial Services Group. Farmers Group, Inc. will sell the underlying insurance entities

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