State Farm is a mutual insurance firm that operates a big group of American insurance and financial services company. The company was started on 7thJune 1922 by George J. Mecherle. The headquarters of the organization is situated in Bloomington, Illinois, United States. They control their operations through a network of 18,000 agents, 30 operations centers, and 343 claim offices across the country. As of 2015 records, the revenue of the company was US$ 87.6 billion, whereas they earned a net income of US$ 6.229 billion during the same duration. There are more than 70,000 people divided into management, service, and operational departments.
This group of companies includes more than 20 companies, such as State Farm Fire & Casualty Company, Insurance Placement Services, Amberjack Limited, Plaza One Realty Co., State Farm Bank, State Farm Mutual Insurance Company of Texas, Dover Bay Specialty Insurance Company, and many more. Some major services offered by the company are insurance, home equity loans, vehicle loans, credit cards, home mortgage loans, education savings plans, life insurance, mutual funds, and many more.
State Farm Competitors
There is a tough competition faced by this organization in the US market. Main competitors of the company are American International Group, USAA, Liberty Mutual, Zurich Financial Services, Reliance Partners, Nationwide, American Family Insurance Group, Allstate, GEICO, and Farmers Insurance.
State Farm Sponsorships
The company is the main sponsor of multi-purpose arena State Farm Center, Golf Tournament State Farm Classic, annual high school holiday basketball tournament State Farm Holiday Classic, and Computer Network & Software Development State Farm Computer Lab.