State Farm Mutual Automobile Insurance Company

What does State Farm own?
State Farm operates its insurance and financial services business under the State Farm brand, including auto insurance, home and property insurance, life insurance, health insurance, and financial services. The company does not own separate consumer-facing brands outside the State Farm name. State Farm previously operated State Farm Bank but exited the banking business in 2023, transitioning deposit accounts to U.S. Bank.

Is State Farm publicly traded?
No, State Farm is not publicly traded. As a mutual insurance company, State Farm is owned by its policyholders and does not trade on any stock exchange. The company's financial performance is reported to policyholders rather than public investors.

Who owns State Farm?
State Farm is owned by its policyholders. As a mutual insurance company, there are no external shareholders or parent company. The company is governed by a board of directors elected by policyholders, and profits are retained to strengthen surplus or returned to policyholders through dividends.

Who founded State Farm?
State Farm was founded on June 7, 1922, by George J. Mecherle in Bloomington, Illinois. Mecherle was a retired farmer who created the company to provide affordable auto insurance to rural residents with good driving records.

Where is State Farm headquartered?
State Farm is headquartered in Bloomington, Illinois, USA.

What is State Farm's revenue?
For fiscal year 2025, State Farm reported total revenue of $132.3 billion, up from $123.0 billion in 2024. Net income was $12.9 billion. P/C earned premium was $111.6 billion.

Who is the CEO of State Farm?
Jonathan Adkisson is the Chairman, President, and CEO of State Farm Mutual Automobile Insurance Company.

State Farm was founded on June 7, 1922, by George J. Mecherle in Bloomington, Illinois. Mecherle was a retired farmer and insurance salesman who had difficulty obtaining affordable auto insurance for rural residents. He founded State Farm as a mutual insurance company to serve farmers and rural residents who were often overlooked by traditional insurance companies. The name "State Farm" reflected the company's focus on serving farmers.

Mecherle's innovative approach included setting premiums based on driving records rather than just location, which helped attract responsible drivers. The company's slogan, "Like a good neighbor, State Farm is there," was introduced in 1971 and has become one of the most recognized corporate slogans in American advertising.

Throughout the 1920s and 1930s, State Farm expanded beyond Illinois, establishing operations in other Midwestern states. The company began offering additional insurance products, including fire insurance in 1935 and life insurance through the State Farm Life Insurance Company subsidiary.

In the mid-20th century, State Farm grew rapidly through its network of captive agents who were exclusive representatives of the company. This agent model became a key differentiator, allowing State Farm to provide personalized service and build strong customer relationships. The company expanded to all 50 states by the 1990s.

Throughout the 2000s and 2010s, State Farm invested in technology, digital platforms, and telematics to enhance customer experience and pricing accuracy. The company launched the Drive Safe & Save telematics program, which uses smartphone technology to track driving behavior and offer personalized discounts.

In recent years, State Farm has navigated significant challenges in the P/C insurance market. In 2023 and 2024, the company experienced substantial underwriting losses, particularly in auto and homeowners insurance, due to inflation, rising repair costs, and natural catastrophe losses. In 2024, the P/C segment reported a $6.1 billion underwriting loss. However, 2025 marked a dramatic turnaround, with the P/C segment generating a $1.5 billion underwriting gain, driven by improved rate adequacy, lower catastrophe losses, and operational improvements.

State Farm has also made strategic decisions regarding its geographic footprint. In 2023, the company stopped accepting new homeowners insurance applications in California, citing wildfire risks and regulatory constraints on pricing. This decision drew significant attention to the challenges of insuring in catastrophe-prone markets.

State Farm publishes sustainability and corporate responsibility information through its annual reports and corporate website. The company focuses on community resilience, disaster preparedness, and responsible business practices.

State Farm is not a Certified B Corporation. The company does not hold B Corp certification.

The company's social impact initiatives include the State Farm Community Grants program, which supports neighborhood revitalization, education, and safety initiatives. State Farm also partners with organizations like the American Red Cross for disaster response and recovery efforts.

State Farm's environmental initiatives focus on promoting resilience to natural disasters and supporting sustainable communities. The company has invested in research on climate risk and its impact on insurance markets. However, State Farm has not publicly committed to net-zero emissions targets or science-based emissions reduction goals.

As a mutual company, State Farm's ethical structure inherently aligns company interests with policyholder interests. The company's profits are retained to strengthen surplus or returned to policyholders through dividends, rather than distributed to external shareholders.