Farmers Group Inc. Names Hopkins Chairman, Woudstra CEO

November 18, 2008

Farmers Group Inc., a Los Angeles-based subsidiary of Zurich Financial Services Group, has promoted Paul Hopkins to Chairman of the Board. In addition, Hopkins will assume responsibilities overseeing Zurich's Latin America operations. Previously, Hopkins was CEO.

Bob Woudstra, formerly president and chief operating officer for succeeds Hopkins as Farmers Group Inc. CEO.

Hopkins joined Farmers in 1978 as an agent and subsequently became a Farmers employee where he held positions of increasing responsibility in the sales and marketing areas. He credited the company's success during his tenure as CEO to its agents, district managers and employees. He is a member of the Group Management Board of Zurich Financial Services (Zurich) and president of U.S. Personal Business.

Woudstra has given 35 years of service to Farmers and to Foremost Insurance Co. He joined Foremost Corp. of America in 1973 as controller. In February 1999, he was promoted to chief operating officer of Foremost, which position he held at the time Foremost was acquired by Farmers in March 2000. In April 2005, Woudstra was promoted to executive vice president of Property and Casualty Operations and relocated to Los Angeles. In May 2007, he was appointed to president and chief operating officer.