The Zebra Newsroom

State Farm acquires GAINSCO

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State Farm closed their purchase of GAINSCO, making it their very first insurance company acquisition in State Farm’s 98-year history. 

GAINSCO is a Dallas-based holding company, concentrating on non-standard personal automobile insurance and specializing in minimum-limits auto insurance. GAINSCO generated nearly  $268 million in annual premiums in the non-standard personal auto space in 2019, suggesting that the acquisition could provide State Farm a meaningful boost in the market in the future.

Under this agreement,  State Farm Mutual will acquire 100% of the stock of GAINSCO Inc., and shareholders will receive approximately $107.38 per share in cash. GAINSCO will operate as a separate company and brand, and State Farm agents will be able to distribute GAINSCO products.

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