Farmers Insurance is set to begin providing insurance and financial services to Connecticut consumers Jan. 1, 2015, pending regulatory approvals, according to company executives who recently briefed local media representatives on the company’s plans.
“Farmers is excited about its entry into Connecticut and continuing our successful eastern expansion efforts in the Constitution State,” said Carl Hackling, head of exclusive agent distribution in the East Zone for Los Angeles-based Farmers Insurance.
“Also, as we build our business in the state, Farmers will be able to provide a growing number of entrepreneurial opportunities for those interested in becoming Farmers Agency Owners,” said Hackling.
Beginning in 2011, Farmers began a concerted effort to expand its presence along the eastern seaboard. The national insurer opened new offices in Pennsylvania in the first part of that year, followed by New Jersey later in the year.
In 2012, Farmers opened operations in Georgia and Maryland, and added the New York market in 2013. Connecticut will become the 35th state in which it provides insurance through its exclusive agent distribution system when it begins operations in 2015.
The move into Connecticut is part of an ongoing progression by Farmers to continue its growth across the country, the company said in its announcement. Farmers said Connecticut also offers a tradition of rate and loss history stability, an opportunity to further spread the company’s risk exposure and the ability to further leverage its national branding campaign.
Farmers said that, to date, the company’s eastern expansion efforts have resulted in the placement of approximately 800 new Agency Owners spread across the five new states that have generated approximately $250 million in additional premium for Farmers.
“In 2015 alone, we are looking to add 30 new Agency Owners in Connecticut with additional appointments in the succeeding years,” said Hackling.
The Farmers Insurance Group of Companies operates several insurance brands in the U.S. insurance marketplace, including Farmers Insurance, Foremost Insurance, 21st Century Insurance and the Bristol West Insurance Company.
Farmers Insurance Group of Companies is a U.S. insurer group of automobiles, homes and small businesses and also provides a wide range of other insurance and financial services products. Farmers Insurance serves more than 10 million households with more than 20 million individual policies through the efforts of over 50,000 exclusive and independent agents and approximately 22,000 employees.
Source: Farmers Insurance
Was this article valuable?
Here are more articles you may enjoy.