BLOOMINGTON, Ill., December 31, 2020 - In September, State Farm Mutual Automobile Insurance Company announced an agreement to acquire non-standard auto insurer GAINSCO for approximately $400 million in cash.
The transaction closed on Dec. 31.
The closing finalizes the first acquisition of an insurance company by State Farm in the company's 98-year history.
In the future, the companies expect to provide State Farm independent contractor agents an opportunity to market, solicit and service GAINSCO products.
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Gainsco Inc. published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 19:49:05 UTC.
