Farmers Insurance Inc., a subsidiary of Zurich
Financial Services Group, is purchasing AIG’s Personal Auto Group for $1.9 Billion. Farmers will then sell the entities to Farmers Exchanges, who they manage but do not own. The sale should be completed by the third quarter this year, depending on regulatory approvals.

The good news for Farmers? They will now be the third largest personal insurer in the U.S. and Farmers Exchanges will become the largest auto insurer in several U.S. states, including California.

Farmers CEO calls it a "win, win, win, win" for Farmers, who has seen good growth in recent years.

Read more about the aquisition at the following sites:

http://cbs2.com/local/Farmers.Insurance.Inc.2.986611.html

http://www.google.com/hostednews/afp/article/ALeqM5gj8fN4WwwaT1tUFLOw7NhHBMSJtA

Related Articles of Interest:

1. Farmers Insurance Prepared For Hurricane Gustav’s Arrival As Hurricane Gustav churns in the Gulf and heads for [...]...
2. Consider Safety While Searching For Quotes For Auto Insurance Online As you search the Internet for great auto insurance online, it is important to also remember the importance of remaining safe while you drive.  This...
3. CNN Money Paints Realistic Auto Insurance Expectations CNNMoney.com’s recent article about auto insurance tells it ‘like it is’ when it comes to the top things to know about auto insurance. For starters,...
4. Avoiding Auto Reposession in a Declining Economy PRWeb.com released an article today describing AvertRepo.com’s solution to losing your vehicle to repossession. "We’ve prevented more than 24,000 repossessions in the last 6 months,"...
5. State Farm(R) Already Helping Policyholders Recovering From Hurricane Gustav Company mobilizes Catastrophe Services® to Handle Claims from Storm Bloomington, Illinois, September 1, 2008 –State Farm, the largest insurer of homes and autos in the...