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State Farm Group

State Farm Life Insurance Company was established in 1929 and they began their operations in 1961 to meet special requirements for life insurance in Wisconsin, Connecticut and New York. At the end of 1999, the two companies had nearly 395.3 billion dollars total insurance and assets of more than 27.9 billion dollars. Their life affiliates rank fifth among all life insurance groups doing business in the United States. State Farm Life Insurance Company and State Farm Life and Accident Assurance Company have been marketing Variable Products to their customers through State Farm Management Corporation since 1998.

State Farm was started in 1922 as a mutual automobile insurance company owned by its policyholders. State Farm County Mutual Insurance Company of Texas became a part of their Group in 1961 and protects higher risk motorists in that state. At the year end 1999 they earned premiums more than 4.7 million dollars and assets totaled to 43.5 million dollars.

In just over eighty years, the company has grown from a small farm mutual auto insurer to one of the world's leading financial institutions. But in spite of company's growth, Mecherle's original philosophy of insurance coverage at a fair price coupled with fair claim settlement has remained.

The Company initially concentrated on meeting auto insurance needs of Illinois farmers in the course of a mutual organization owned by the customers. By 1942, the company was the nation's largest auto insurer, a ranking it has held ever since. About 1 out of every 5 cars on the road is insured with the company. It is a mutual insurance company and as such does not have any shareholders.

They are people, who make their business as a good neighbor, who built a leading company by selling and keeping promises through their marketing partnership, who bring miscellaneous talents and experiences to their work of serving the State Farm customer.

The Company’s image for the future is to be the customer's first and best choice in the products and services they provide. They will continue to be the leader in the insurance industry and they will become a leader in the financial services field. Their customers' needs will determine their path and their values will guide them.

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