State Farm was founded in 1922 by retired farmer George J. Mecherle as a mutual automobile insurance company owned by its policyholders. The firm originally specialized in auto insurance for farmers. The company later expanded its services into other types of insurance, such as homeowners and life insurance, in addition to banking and financial services.
State Farm's jingle ("Like a good neighbor, State Farm is there") was written by American songwriter Barry Manilow in 1971.
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| Edward B. Rust, Jr. |
As of December 2008 State Farm had 67,000 employees and 17,000 agents. March 2009 figures show the group servicing 77 million policies in the United States and Canada, of which over 40,000,000 are for automobiles, and more than 2 million bank accounts.
Edward B. Rust, Jr. is the current chairman and CEO of State Farm Mutual Automobile Insurance Company, as well as president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates.
On March 1, 2007, State Farm Mutual Automobile Insurance Company announced it will pay $1.25 billion in dividends to its mutual auto insurance policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick.
