As a taxpayer when should I be getting a check to help repay the $158 billion you owe us? So we would be down to 156 billion? Look forward to the check…….NOT…….
i wonder how farmers will sell or service new and/or existing 21st century clients? will it be on-line only or can agents do it? is zurich going to buy the rating criteria or just the book? do agents benefit in any way or will they be competing against there own company’s acquisition? when they purchased bristol west it opened up a whole new world of clients.
Remember, kids, Zurich manages Farmers but doesn’t own it. I bet Farmers doesn’t see a dime or a bit of benefit from this, if it happens. Zurich will introduce their own brand and compete with Farmers to try and make more than their “management fee”. LOL.
many times the comments are negative (guilty myself)… but that rarely provides solid answers. does anybody think it’s logical or profitable to expand 21st century into farmers? i certain farmers is bigger than 21st and just like the bristol west purchase, farmers agents would sell the crap out of it if they could. many agents sell half of any new biz into bw due to ease of use, speed, and pricing on “standard and non-standard” clients. does anyone have a good idea for why the purchase is moving ahead?
– Farmers Brand – used by its exclusve agents
– Foremost – now used for all IA channel PL and CL biz including Bristol West (see press release)
– 21st Century Brand – Farmers would use for direct biz.
This presents a multi channel approach with clear delineation between the channel and brands…just a thought
I doubt if you’ll notice any difference in the way Farmers or 21st Century does business. As far as Zurich is concerned 21st is just another money making asset on their books. But what will be interesting will be the competition between Farmers and 21st to demonstrate which distribution system will survive.
I suspect that Farmers claims or “Farmers HelpPoint” will handle claims for both entities. Another brand! Another ad budget and campaign albeit with likely a younger more tech savvy smaller net worth target demographic.
Does anyone remember Maryland Casualty, Universal Underwriters, Foremost, Empire Fire and Marine? Don’t kid yourself by thinking 21st Century will not change. Zurich’s goal is “One Brand”. 21st Century will be swallowed up just like the companies above, that is of course if the sale goes through.
FYI – Farmers is owned by its policyholders and Zurich owns the managing company. How many policyholders do you know of that attend annual meetings or vote when they receive the info in the mail? Zurich may not legally own Farmers but they own Farmers.
Just what is Allianz going to do with Hartford?
Who would’ve thought that you’d be able to buy a pack of gum and a share of AIG for just one dollar!
I still say its overpriced at less than a buck a share!
As a taxpayer when should I be getting a check to help repay the $158 billion you owe us? So we would be down to 156 billion? Look forward to the check…….NOT…….
looks like Farmers will get into the direct auto insurance distribution business
They have with the Zurich BOP
And what is the status of A.I. Credit aka
as Imperial Premium Finance? That would bring a couple of bucks to give back to the taxpayers, wouldn’t it?
i wonder how farmers will sell or service new and/or existing 21st century clients? will it be on-line only or can agents do it? is zurich going to buy the rating criteria or just the book? do agents benefit in any way or will they be competing against there own company’s acquisition? when they purchased bristol west it opened up a whole new world of clients.
This is classic rumorvilling – don’t waste your time thinking about it.
isn’t this just like re-arranging the deck-chairs on the Titanic ?
Remember, kids, Zurich manages Farmers but doesn’t own it. I bet Farmers doesn’t see a dime or a bit of benefit from this, if it happens. Zurich will introduce their own brand and compete with Farmers to try and make more than their “management fee”. LOL.
many times the comments are negative (guilty myself)… but that rarely provides solid answers. does anybody think it’s logical or profitable to expand 21st century into farmers? i certain farmers is bigger than 21st and just like the bristol west purchase, farmers agents would sell the crap out of it if they could. many agents sell half of any new biz into bw due to ease of use, speed, and pricing on “standard and non-standard” clients. does anyone have a good idea for why the purchase is moving ahead?
The way it could play out:
– Farmers Brand – used by its exclusve agents
– Foremost – now used for all IA channel PL and CL biz including Bristol West (see press release)
– 21st Century Brand – Farmers would use for direct biz.
This presents a multi channel approach with clear delineation between the channel and brands…just a thought
Would the auto unit sale include the auto agency company?
I doubt if you’ll notice any difference in the way Farmers or 21st Century does business. As far as Zurich is concerned 21st is just another money making asset on their books. But what will be interesting will be the competition between Farmers and 21st to demonstrate which distribution system will survive.
I suspect that Farmers claims or “Farmers HelpPoint” will handle claims for both entities. Another brand! Another ad budget and campaign albeit with likely a younger more tech savvy smaller net worth target demographic.
yes agency auto would be included according to what has been communicated by AIG
Does anyone remember Maryland Casualty, Universal Underwriters, Foremost, Empire Fire and Marine? Don’t kid yourself by thinking 21st Century will not change. Zurich’s goal is “One Brand”. 21st Century will be swallowed up just like the companies above, that is of course if the sale goes through.
FYI – Farmers is owned by its policyholders and Zurich owns the managing company. How many policyholders do you know of that attend annual meetings or vote when they receive the info in the mail? Zurich may not legally own Farmers but they own Farmers.
I wonder about Hartford as well. Seems that they must be in play. Farmers wants to grow east coast PL – Hartford is a player there…
WOULD ZURICH CONTAIN THE SAME SALES STAFE AND AGENCIES?
WILL ZURICH BE RESPONSIBLE FOR THE REPAYMENT OF PART OF THE LOAN? WOULD ANY OF THE PERSONEL AND AGENCY BE CONTAINED?