Quick Answer: Who started State Farm Insurance?

How did State Farm start?

State Farm began in 1922 as one man’s plan to offer low-cost automobile insurance to the farmers of Illinois: hence the name State Farm Mutual Automobile Insurance Company. State Farm’s early success and strong standing in a volatile marketplace is surely due to the vision of the company’s founder, George Mecherle.

Who owns State Farm now?

Michael Tipsord is chairman and CEO of State Farm Mutual Automobile Insurance Company, and president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates.

CEOs.

CEO Years Served
Michael L. Tipsord 2015–present

Is state farm privately owned?

State Farm is a private company. This means that State Farm shares are not available to purchase on the public market, and instead the company is classified as a mutual insurance company because it is owned by its policyholders. … How much is the State Farm multi car discount?

How much does the CEO of State Farm make?

Michael Tipsord, chairman, president and CEO of State Farm, received total compensation of $20,266,505.62 last year, according to a report by The Pantagraph. That includes a $2,147,076.91 base salary and an $18,081,900 incentive-based bonus.

Who was the first female State Farm agent?

The winner, Estelle Holzer, commented, “A woman has to work much harder to prove her worth and ability.” Kathie Doyle-Lipe remembers those days. Her father, Mel “PeeWee” Whitehead, had been a State Farm agent almost three decades, yet the company had no women agents in Spokane until Doyle-Lipe was hired in 1979.

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Is State Farm the largest insurance company?

State Farm is the largest auto insurance company in the U.S. and possesses 16% of the total available market share. … The company currently employs approximately 60,000 employees and has nearly 19,000 agents. State Farm operates as a mutual insurance company, meaning that it’s owned by its policyholders.