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State Farm is owned by State Farm policyholders. The fact that State Farm is a mutual insurance company means the company is privately owned by the people who purchase its insurance policies, and shares in the company are not available to investors on the public market. Among the 10 largest insurance companies in the United States, four companies, including State Farm, are private.
Michael Tipsord is State Farm’s chairman, president and CEO. The board of directors consists of a broad group of business and community leaders. Some notable members include Dan E. Arvizu (chancellor of the New Mexico State University System), Allan R. Landon (former CEO of the Bank of Hawaii), and Kenneth J. Worzel (COO of Nordstrom, Inc.).
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