SOURCE: Farmers Insurance

July 31, 2012 14:01 ET

Farmers New World Life Insurance Company Names David Dietz New Chief Executive Officer

MERCER ISLAND, WA--(Marketwire - Jul 31, 2012) - David Dietz, currently chief executive officer of Zurich Insurance Company's (Zurich) Global Life in North America, will assume the additional role of chief executive officer of Farmers New World Life (FNWL) effective in mid-August. Dietz will take over from current CEO, Jerry Carnahan, who recently announced his retirement.

"We wish Jerry Carnahan well as he begins a new chapter of his life," said Dietz. "Jerry has positioned Farmers New World Life very well for ongoing success and we look forward to building on his leadership to effectively grow our life insurance business."

In his new role as CEO of FNWL, Dietz will bring over 30 years of Life insurance expertise and many years of leadership and executive experience to the company. He became CEO of Zurich's Global Life North America unit in 2010. Prior to joining Zurich, Dietz held several senior executive positions, including serving as president of AIG Life Wealth Management, chairman of AIG Affluent & Corporate Markets and president of the United States Life Insurance Company.

During the summer, Dietz and Carnahan will work closely on an agreed upon transition plan. 

Carnahan's career with Farmers and Zurich has spanned 33 years during which time he made numerous contributions to the success of the organization. He was named president and CEO of Farmers New World Life in March 2011 after touching on many aspects of running a successful insurance company including managing field operations, claims, marketing, sales and executive management.

Farmers Insurance Group of Companies is a leading U.S. insurer of automobiles, homes and small businesses and also provides a wide range of other insurance and financial services products. Farmers Insurance is proud to serve more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and nearly 24,000 employees.

Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be.  Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Insurance Group Ltd. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit its Web site at www.farmers.com or at www.Facebook.com/FarmersInsurance.

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