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Paul Hopkins Named Chairman of Farmers Group, Inc.; Bob Woudstra named Farmers Group, Inc. CEO

LOS ANGELES, CA – Paul Hopkins, Chief Executive Officer (CEO) of Farmers Group, Inc., a Los Angeles-based subsidiary of Zurich Financial Services Group (Zurich), has been promoted to Chairman of the Board of Farmers Group, Inc. In addition, Mr. Hopkins will assume responsibilities overseeing Zurich’s Latin America operations.

Bob Woudstra, who currently is President and Chief Operating Officer for Farmers Group, Inc., has been named to succeed Mr. Hopkins as Farmers Group, Inc. CEO.

Mr. Hopkins, who joined Farmers in 1978 as a Farmers agent and subsequently became a Farmers employee where he held positions of increasing responsibility in the sales and marketing areas, credited the company’s success during his tenure as CEO to its agents, district managers and employees.

“Farmers’ success has been a true team effort and I would like to thank members of our leadership team; our entire employee and agency force; and the men and women who have served on our Boards for their passion, enthusiasm and support,” Mr. Hopkins added.

Mr. Hopkins was quick to praise Bob Woudstra, his successor as Farmers Group, Inc. CEO, for his leadership role in the company’s recent growth and success.

“Bob Woudstra is an experienced and talented leader with 35 years of service to Farmers and to Foremost Insurance Co., making him uniquely qualified to take charge of this great organization. Bob has made crucial and substantial contributions to Farmers’ strong performance. I am confident this is the beginning of even greater things for Farmers,” Mr. Hopkins said. “Bob will continue the momentum and add his own visionary imprint as he leads Farmers into the future.”

Farmers Group, Inc. is a wholly owned subsidiary of Zurich Financial Services, an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Farmers® is the nation's third-largest Personal Lines Property & Casualty insurance group. Property and casualty products are underwritten and issued by the Farmers Exchanges and their subsidiaries, which Farmers Group, Inc. manages but does not own. Headquartered in Los Angeles, Farmers provides homeowners, auto, business, specialty products, life insurance and financial services to more than 10 million households. For more information about Farmers, visit our Web site at www.farmers.com.