Farmers Insurance, a national multiline insurers, is set to begin providing insurance and financial services to Connecticut consumers January 1, 2015, pending regulatory approvals, according to a company announcement.
Beginning in 2011, Farmers began a concerted effort to expand its presence along the eastern seaboard. The national insurer opened new offices in Pennsylvania in the first part of that year, followed by New Jersey later in the year. In 2012, it opened operations in Georgia and Maryland, and added the New York market in 2013. Connecticut will become the 35th state in which it provides insurance through its exclusive agent distribution system when it begins operations on the first of the year.
To date, the company’s eastern expansion efforts have resulted in the placement of approximately 800 new Agency Owners spread across the five new states that have generated approximately $250 million in additional premium for Farmers. Entering the Connecticut market will help drive additional Agency Owner opportunities in the state that will, in turn, help to drive new revenue for the insurer.
Source: Farmers Insurance
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