$166 Billion
Amount in earned premium the California State Compensation Fund recorded in 2008, according to its annual report. SCIF had $2.27 billion in earned premium in 2007. The state workers’ compensation insurer’s investment portfolio was valued at $18.5 billion, compared to $19.6 billion in 2007. Net investment income was $896.2 million, compared to $961.5 million in 2007. Reserves were $15.6 billion, compared to $16.0 billion in 2007.
$1.9 Billion
Purchase price that Los Angeles-based The Farmers Insurance Group of Companies paid for the acquisition of ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s U.S. Personal Auto Group, which includes 21st Century Insurance. In addition to 21st Century Insurance, the acquisition includes the former ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Direct business and Agency Auto business. Farmers Group Inc. will sell the underlying insurance entities to the Farmers Exchanges, which Farmers Group Inc. manages but does not own, for approximately $1.4 billion.
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