Farmers Group, Inc. Announces Raul Vargas to Succeed Jeff Dailey as President and Chief Executive Officer

At the service of farmers® brand for more than a decade, Mr. Dailey joined Farmers Group, Inc. in 2007 upon its acquisition of Bristol West Holding, where he held several positions including CEO. From 2008 to 2011, he served as Executive Vice President of Farmers Group, Inc. for Personal Lines, driving new and innovative products for the organization. In 2011, Mr. Dailey was promoted to President and Chief Operating Officer and became a member of the Board of Directors of Farmers Group, Inc. He has served as Chairman since October 2015. Mr. Dailey was appointed to the position of President and Chief Executive Officer of Farmers Group, Inc. in January 2012.

“Jeff has had a positive impact on Farmers for over a decade of leadership and service,” said Mario Greco, CEO of the Zurich Group. “He successfully led the organization by driving positive business results, driving technology advancements, fostering a culture of innovation and collaboration, as well as effectively leading employees and the organization through a global pandemic. and some of Farmers’ most turbulent times over more than 90 years of history.We appreciate his contributions and leadership.

“We are delighted to have Raul Vargas serve as the 13th President and Chief Executive Officer of Farmers Group, Inc.,” Greco continued. “Raul, in his current role as President of Distribution, Life and Financial Services, provides a strategic and people-focused path solutions for the national group of insurers to continue to offer a high level of service and quality insurance products to American consumers. His deep understanding of the insurance industry and his history as a strategic leader make him a unique candidate for the role.”

“It’s been an honor to lead Farmers over the years,” Dailey said. “Since its creation in Los Angeles in 1928, Farmers has a rich tradition of proudly serving its customers. It has been a privilege to propel the organization in a positive direction and to continue the legacy in which Farmers was founded. I am grateful to have worked with some incredibly talented people throughout my time here as President and CEO, and I look forward to continuing to serve the brand as Chairman of the Board of Directors of Farmers Group, Inc.”.

“Raul is an accomplished and seasoned industry leader who has successfully held leadership positions at Zürichmost recently running from Zürich innovative personal and life insurance distribution partnership with Santander in Latin America“, said Mr. Dailey. “Since joining Farmers earlier this year, he has impressed me with his curiosity, intelligence and breadth of experience in the insurance industry. I am confident that he will lead Farmers to continued growth and success. »

“It is an honor and a privilege to have been chosen to lead Farmers in this new chapter in the organization’s history,” said Mr. Vargas. “I am dedicated to working with our talented team to drive sustained growth and continually improve the experience of our valued customers. I am grateful to Jeff for his continued leadership, and look forward to working closely with him to drive from the work he has done.”

Mr. Vargas has over two decades of international leadership experience through Latin America and Europe. His long career with Zurich Financial Services Group includes eight years as CEO of Zurich Santander Insurance America, in addition to several leadership roles across a wide range of geographies, including Head of Distribution and proposals from Zurich Santander in Madrid, Spain; Head of Life Affairs – Latin America in Miami, Florida; as well as Chief Life Actuary and Head of Product Development Milan, Italy. Mr. Vargas joined Zurich Insurance Group in 1997 as a life actuary in Zurich Argentina.

The Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange are California inter-insurance exchanges held by their policyholders. Each of the exchanges is governed by its own board of governors.

Farmers Group, Inc. or one of its wholly-owned subsidiaries provides certain administrative services for each exchange under power of attorney.

The exchanges do not hold any ownership interest in Farmers Group, Inc. or its subsidiaries, and neither Zurich Insurance Group, Farmers Group, Inc. nor any of their subsidiaries holds any ownership interest in any of the exchanges.

About Farmers Insurance
“Farmers’ insurance®” and “Farmers®are trade names for a group of insurers providing auto, home and small business insurance and a wide range of other insurance products and financial services. For more information about Farmers Insurance, visit Farmers.com or follow Farmers on Twitter @WeAreFarmers, on Instagram @ThisIsFarmers and Facebook.com/FarmersInsurance.

SOURCE Farmers Group, Inc.

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