$166 Billion
Amount in earned premium the California State Compensation Fund recorded in 2008, according to its annual report. SCIF had $2.27 billion in earned premium in 2007. The state workers’ compensation insurer’s investment portfolio was valued at $18.5 billion, compared to $19.6 billion in 2007. Net investment income was $896.2 million, compared to $961.5 million in 2007. Reserves were $15.6 billion, compared to $16.0 billion in 2007.
$1.9 Billion
Purchase price that Los Angeles-based The Farmers Insurance Group of Companies paid for the acquisition of AIG’s U.S. Personal Auto Group, which includes 21st Century Insurance. In addition to 21st Century Insurance, the acquisition includes the former AIG Direct business and Agency Auto business. Farmers Group Inc. will sell the underlying insurance entities to the Farmers Exchanges, which Farmers Group Inc. manages but does not own, for approximately $1.4 billion.
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