Headquarters: 6101 Anacapri Blvd., Lansing, MI 48917
http://www.auto-owners.com
2009 Annual Revenue: $5.02 billion (a 1.3 percent increase from 2008)
Key Officers: Ron H. Simon, Chairman and Chief Executive Officer; Jeffrey F. Harrold, President
The Auto-Owners Insurance Company and its subsidiaries offer a variety of car, home, life and business insurance to customers in 26 states through 6,200 agencies.
Established in 1916 by Vern V. Moulton, the Auto-Owners Insurance Company accrued $174.25 in assets and one book of policies in its first year. But during the Great Depression, when many insurance companies struggled, Auto-Owners paid all claims daily in cash, at that time writing more than $2.5 million in insurance.
In 1940, the company began selling general casualty insurance, having previously only written auto insurance. Auto-Owners began writing business outside Michigan in the 1930s, and continues to add states into their operating areas. In November 2009, Pennsylvania became its 26th state.
The corporate office in Lansing houses Auto-Owners Insurance Company and its subsidiaries: Auto-Owners Life Insurance Company, Home-Owners Insurance Company, Owners Insurance Company, Property-Owners Insurance Company, and Southern-Owners Insurance Company.
The company has been ranked in the Fortune 500 list of largest companies based on revenue since 2002 (ranked at 418 for 2010), with written premium over $4.4 billion. Auto-Owners property and casualty companies are rated A++ by A.M. Best Company (the highest possible rating), and the Auto-Owners Life Insurance Company is rated A+ (superior).
Sources: auto-owners.com, Hoover’s
Compiled by Life Quotes, Inc. staff
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