Founded in 1922, State Farm began as a mutual automobile insurance company to assist farmers in Bloomington, Illinois. It launched its interlocking red tri-oval logo in the 1940s. State Farm became the largest auto insurance company in the United States in 1942 and launched in Canada in 1947.4
In the 1950s, State Farm held a contest among its agents to come up with ideas to expand the business. Robert H. Kent, an agent in Chicago, came up with the idea of providing auto loans to existing policyholders. State Farm rolled out the program to all its agents, creating the first marketing partnership between insurance companies and banks.
State Farm refreshed its brand during its 2012 90th anniversary celebration. In 2014, it sold its operations in Canada to Desjardins Group. State Farm was officially rebranded to Desjardins Insurance in Canada in 2018.
State Farm acquired the Dallas-based, non-standard auto insurer GAINSCO in 2020. It marked the first acquisition of an insurance company by State Farm in its history. State Farm celebrated 100 years of business in 2022. At the same time, State Farm acquired a 15 percent stake in security services company ADT to expand its homeowners’ insurance capabilities.