Insurance is the nation’s 3rd largest traditional “direct” writer of insurance. Without including 21st Century customers, Farmers already provides auto, home, business, specialty, life insurance and financial services to 10.5 million US households.
Farmers Group, Inc. CEO F. Robert Woudstra described the acquisition as a “positive and historic milestone for Farmers, 21st Century, Farmers agents, and, most importantly, insurance consumers across the United States.”
“We welcome 21st Century CEO Tony DeSantis and his highly professional and accomplished management team and employees into the Farmers family,” Mr. Woudstra said. “This acquisition represents a perfect strategic business fit and will dramatically transform the insurance landscape by positioning Farmers as the leading multi-line, multi- channel insurer in the United States. Most importantly, this acquisition enables us to accommodate the shopping needs of all insurance consumers.”
In addition to the positive impact on consumers, Mr. Woudstra explained, that Farmers’ vast national network of insurance agents also will benefit from the acquisition. “This acquisition will enable 21st Century customers to have access to Farmers agents, who can help them with their other insurance needs, such as homeowners, business, specialty products, life insurance and financial service products,” Mr. Woudstra said.
“Since our founding in 1928, Farmers has been built by thousands of loyal, passionate, customer-focused Farmers agents, district managers and employees,” Mr. Woudstra said. “Farmers is strongly committed to growth, success and expansion, all of which include a strong, vibrant agency distribution system. The acquisition of 21st Century is an extension of that commitment to our agents, raising their visibility and access to the rapidly expanding network of internet shoppers.”
“Research clearly shows that more and more insurance consumers are shopping, quoting and purchasing insurance products online,” Mr. Woudstra said. “This addition of 21st Century will provide Farmers with a geographically broader and more diverse market presence across the country, including the eastern seaboard - a key target market for future Farmers growth.” Mr. Woudstra added.