Los Angeles, CA (December 27, 2011) – Farmers Group, Inc. has appointed Peter Teuscher to fill the post of Senior Vice President & Chief Investment Officer effective January 1, 2012. Teuscher will replace Laszlo Heredy, who has been Farmers Group, Inc. Chief Investment Officer since 2000 and who is retiring at the end of 2011.
Teuscher has most recently worked as Head of Strategy and Markets for Zurich Financial Services Group where he was responsible for the development of long- term and short-term investment strategies. He has a master's degree in economics.
Farmers Insurance Group of Companies is the country's 3rd largest insurer of both personal lines passenger automobile and homeowners insurance, is a leading insurer of small businesses in the United States and also provides a wide range of other insurance and financial services products. Farmers Insurance is proud to serve more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and nearly 24,000 employees.
Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit its Web site at www.farmers.com or at www.Facebook.com/FarmersInsurance.