The Farmers Exchanges and Farmers Group, Inc. (FGI) announced they will jointly acquire MetLife’s property and casualty insurance business. Zurich confirmed in November that its Farmers’ subsidiary was in negotiations with MetLife.
Completion of the transaction is subject to regulatory approvals and is anticipated to occur in the second quarter of 2021.
As part of the transaction, the Farmers Exchanges are entering into a 10-year exclusive distribution agreement with MetLife, the leading group benefits company in the United States. Under the 10-year exclusive distribution agreement, Farmers and MetLife plan to leverage combined capabilities to offer personal lines products on