October 25, 2014 8:00 AM ET

Insurance

Company Overview of Fire Insurance Exchange

Company Overview

Fire Insurance Exchange offers fire insurance services and is based in Los Angeles, California. The company operates as a subsidiary of Farmers Group Inc.

4680 Wilshire Boulevard

Los Angeles, CA 90010

United States

Founded in 1942

Phone:

323-932-3200

Fax:

323-932-3101

Key Executives for Fire Insurance Exchange

Chief Executive Officer
Age: 65
Compensation as of Fiscal Year 2014.

Fire Insurance Exchange Key Developments

Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange Announce Extension of Price Determination Date

Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange (collectively, the "Exchanges") announced an amendment to Farmers Insurance Exchange's previously announced cash tender offer for any and all of its outstanding 8.625% Surplus Notes due 2024 and the Exchanges' previously announced cash tender offer for up to the Maximum Tender Amount of Farmers Exchange Capital's outstanding 7.05% Trust Surplus Note Securities and 7.20% Trust Surplus Note Securities in the priority set on the cover of the Offer to Purchase. The "Maximum Tender Amount" is equal to $550.0 million aggregate liquidation amount of Trust Notes less the aggregate principal amount of 2024 Notes accepted for purchase by Farmers Insurance Exchange. The "Tender Offers" refer, collectively, to Farmers Insurance Exchange's offer to purchase the 2024 Notes and the Exchanges' offer to purchase the Trust Notes. The Tender Offers are being made pursuant to an Offer to Purchase dated October 9, 2013, which sets forth a more detailed description of the Tender Offers. The Exchanges have extended the date on which the Total Consideration and the Tender Offer Consideration for each series of Notes validly tendered and accepted for purchase pursuant to the Tender Offers will be determined from 2:00 p.m., ET, on October 24, 2013 to 2:00 p.m., ET, on October 29, 2013, unless further extended with respect to any series of Notes. The Exchanges are not extending withdrawal rights for Notes tendered in the Tender Offers, which expired at 5:00 p.m., ET, on October 23, 2013. Aside from the revision to the price determination date, all other terms of the Tender Offers are unchanged. The Tender Offers are scheduled to expire at Midnight, ET, on November 6, 2013, unless extended or earlier terminated with respect to any series of Notes. The Tender Offers are subject to the satisfaction or waiver of certain conditions set in the Offer to Purchase. In particular, the Tender Offers are conditioned on the completion of one or more financing transactions on terms reasonably satisfactory to the Exchanges resulting in the issuance of surplus notes by the Exchanges in an aggregate principal amount of no less than $350 million and receipt of the requisite regulatory approvals related thereto. If any of these conditions are not satisfied, none of the Exchanges would be required to purchase any of the Notes tendered.

Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange Commence Cash Tender Offers

Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange (collectively, the Exchanges) announced that Farmers Insurance Exchange commenced a cash tender offer for any and all of its outstanding 8.625% Surplus Notes due 2024 (the 2024 Notes) and the Exchanges commenced a cash tender offer for up to $550.0 million in aggregate liquidation amount, less any amount accepted in the 2024 Notes Tender Offer, of Farmers Exchange Capital's outstanding 7.05% Trust Surplus Note Securities (the 7.05% Trust Notes) and 7.20% Trust Surplus Note Securities (the 7.20% Trust Notes and, together with the 7.05% Trust Notes, the Trust Notes and, together with the 2024 Notes, the Notes). The Exchanges refer to Farmers Insurance Exchange's offer to purchase the 2024 Notes as the 2024 Notes Tender Offer and the Exchanges offer to purchase the Trust Notes as the Trust Notes Tender Offer. The Exchanges refer to both offers, collectively, as the Tender Offers. All validly tendered 2024 Notes will be accepted for purchase and all validly tendered 7.05% Trust Notes will be accepted for purchase before any 7.20% Trust Notes are accepted. There are currently outstanding $300 million aggregate principal amount of 2024 Notes, $500 million aggregate liquidation amount of 7.05% Trust Notes and $150 million aggregate liquidation amount of 7.20% Trust Notes. The Tender Offers are being made pursuant to an Offer to Purchase dated today, which sets forth a more detailed description of the Tender Offers. The Tender Offers are scheduled to expire at Midnight, New York City time, on November 6, 2013, unless extended or earlier terminated with respect to any series of Notes. Holders must validly tender and not withdraw their notes before 5:00 p.m., New York City time, on October 23, 2013, unless extended with respect to any series of Notes, to receive the applicable total consideration, which includes an early tender payment of $50 per $1,000 principal or liquidation amount, as applicable, of Notes accepted for purchase (the Total Consideration). Holders who validly tender their Notes after 5:00 p.m., New York City time, on October 23, 2013, unless extended with respect to any series of Notes, but before the offer expires, will only receive the tender offer consideration, which is the Total Consideration minus $50 per $1,000 principal or liquidation amount, as applicable, of Notes tendered and accepted for purchase (the Tender Offer Consideration). A tender of Notes may be validly withdrawn at any time up to 5:00 p.m., New York City time, on October 23, 2013, unless extended with respect to any series of Notes, but not thereafter. The Total Consideration for each $1,000 principal or liquidation amount, as applicable, of Notes validly tendered and accepted for purchase pursuant to the Tender Offers will be determined in the manner described in the Offer to Purchase by reference to the fixed spread over the yield to maturity of the applicable U.S. In addition to the Total Consideration or the Tender Offer Consideration, as applicable, holders whose Notes are accepted for purchase will receive accrued and unpaid interest or accumulated and unpaid distributions, as applicable, up to, but not including, the settlement date, which is expected to occur promptly following the expiration of the Tender Offers. The Tender Offers are subject to the satisfaction or waiver of certain conditions set forth in the Offer to Purchase. In particular, the Tender Offers are conditioned on the completion of one or more financing transactions on terms reasonably satisfactory to the Exchanges resulting in the issuance of surplus notes by the Exchanges in an aggregate principal amount of no less than $350 million and receipt of the requisite regulatory approvals related thereto. If any of these conditions are not satisfied, none of the Exchanges would be required to purchase any of the Notes tendered. The proceeds from such surplus note issuance, together with cash on hand, would fund the cash required to purchase the Notes validly tendered and accepted for purchase.

A Utah Man Sues Fire Insurance Exchange and Farmers Group, Inc. to Cover the Damage Caused in Deadly Shootout with Police

A Utah man is suing his insurance company to cover the damage caused in a deadly shootout with police. Matthew D. Stewart, 38, returned a check worth $3,321.29 from his insurance company, Fire Insurance Exchange and Farmers Group, Inc. to cover a portion of the estimated $8,400 in damages to his Ogden home caused during a drug raid. Stewart is charged with aggravated murder for allegedly shooting Webster Morgan Strike Force Agent Jared Francom Jan. 4, 2012. Francom was one of several agents to raid Stewart's home on suspicion of a marijuana-growing operation inside. Stewart allegedly began firing at officers, striking and killing Francom. Stewart has pleaded not guilty and is awaiting trial.

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