Divestiture • Insurance

Farmers Group Acquires 21st Century Insurance Group

On July 1, 2009, Farmers Group acquired insurance company 21st Century Insurance Group from AIG for 1.9B USD

Acquisition Context
  • This is Farmers Group’s 3rd transaction in the Insurance sector.
  • This is Farmers Group’s 2nd largest (disclosed) transaction.
  • This is Farmers Group’s 3rd transaction in the United States.
  • This is Farmers Group’s 1st transaction in Delaware.

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M&A Deal Summary

Date July 1, 2009
Target 21st Century Insurance Group
Sector Insurance
Buyer(s) Farmers Group
Sellers(s) AIG
Deal Type Divestiture
Deal Value 1.9B USD

Target Company

21st Century Insurance Group

Wilmington, Delaware, United States
21st Century Insurance has been dedicated to providing customers superior coverage and service, while helping them save money on auto insurance.
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Buyer Overview 1

Buyer

Farmers Group

Los Angeles,, California, United States

Category Company
Founded 1928
Sector Insurance
Employees7,935
DESCRIPTION

Farmers Group, Inc. offers multiline insurance in the United States. Company provides Auto Insurance,Collectible Auto insurance, Motorcycle insurance, Boat insurance, Travel Trailer insurance, Motor Home insurance.


Deal Context for Buyer #
Overall 3 of 4
Sector: Insurance 3 of 4
Type: Divestiture 1 of 2
State: Delaware 1 of 1
Country: United States 3 of 4
Year: 2009 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-06 Bristol West Holdings

Davie,, Florida, United States

Bristol West Holdings, providing nonstandard private passenger auto insurance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-19 Foremost Insurance Co.

Caledonia, Michigan, United States

Foremost Insurance Co. is a provider of insurance mobile homes and recreational vehicles. Foremost Insurance was founded in 1967 and is based in Caledonia, Michigan.

Sell -

Seller Profile 1

SELLER

AIG

New York, New York, United States

Category Company
Founded 1919
Sector Insurance
Employees22,200
Revenue 27.3B USD (2024)
DESCRIPTION

AIG is an international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. American International Group was incorporated in 1919 and is based in New York City.


Deal Context for Seller #
Overall 4 of 22
Sector: Insurance 2 of 18
Type: Divestiture 4 of 20
State: Delaware 1 of 2
Country: United States 2 of 13
Year: 2009 4 of 4
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-31 HSB Group

Hartford, Connecticut, United States

HSB Group, Inc. is a provider of specialty insurance products, engineering services, and management consulting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-01 American Life Insurance Co.

Wilmington, Delaware, United States

American Life Insurance Company provides insurance services.

Sell $16.2B