Raul Vargas is the President and Chief Executive Officer of Farmers Group, Inc., one of the largest insurers in the United States. Born in Argentina, Vargas became the 13th CEO of Farmers Group on January 1, 2023, succeeding Jeff Dailey. He brings more than 25 years of international insurance leadership from Zurich Insurance Group, where he served as CEO of Zurich Santander Insurance America for eight years and held senior roles across Latin America and Europe. Under his leadership, Farmers has achieved a significant financial turnaround, with an adjusted combined ratio improving to 89.9% in 2024 from 106.5% in 2023.
Read on to discover Farmers Insurance CEO email address, Raul Vargas net worth in 2026, salary, career history, education, and more.
Raul Vargas — Quick Facts
| Raul Vargas — At a Glance | |
|---|---|
| Full Name | Raul Aldrin Vargas |
| Position | President & Chief Executive Officer |
| Company | Farmers Group, Inc. (Zurich Insurance subsidiary) |
| Age | ~47 years (born c. 1978, estimated) |
| Nationality | Argentine-American |
| Education | B.S. Actuarial Science & Economics, University of Buenos Aires (2001) |
| Net Worth (Est.) | ~$5 Million |
| CEO Since | January 1, 2023 |
| Headquarters | Woodland Hills, California |
| [email protected] | |
Career Highlights
- 13th CEO of Farmers Group — Appointed President & CEO effective January 1, 2023, succeeding Jeff Dailey after a nearly three-decade career at Zurich Insurance Group.
- Eight-Year CEO of Zurich Santander — Led the joint venture between Zurich Insurance Group and Santander Bank across Latin America from 2014 to 2022.
- Global Insurance Leader — Held senior positions in five countries across three continents (Argentina, Spain, USA, Italy, and Switzerland).
- Financial Turnaround — Under his leadership, Farmers’ adjusted combined ratio improved by 16.6 points to 89.9% in 2024, restoring profitability.
- Valley 200 Honoree — Named to the LA Business Journal’s Valley 200 list of most influential business leaders in the San Fernando Valley (2025).
- California Insurance Crisis Navigator — Led constructive engagement with California’s Insurance Department to keep Farmers operating in the state amid wildfire-related market challenges.
Raul Vargas Career Timeline
| Period | Role | Organization |
|---|---|---|
| 1997 | Life Actuary | Zurich Insurance Group (Argentina) |
| ~2002-2006 | Chief Life Actuary & Head of Product Development | Zurich Insurance Group (Milan, Italy) |
| ~2006-2010 | Head of Life Business — Latin America | Zurich Insurance Group (Miami, FL) |
| ~2010-2014 | Head of Distribution & Proposition | Zurich Santander (Madrid, Spain) |
| 2014-2022 | CEO, Zurich Santander Insurance America SL | Zurich Insurance Group |
| ~2021-2022 | President, Distribution, Life & Financial Services | Farmers Group, Inc. |
| Jan 2023-Present | President & CEO | Farmers Group, Inc. |
Raul Vargas Net Worth & Salary
As of 2026, Raul Vargas’ net worth is estimated at approximately $5 million, based on his executive compensation history, stock options, and long career in the insurance industry. Because Farmers Group is a subsidiary of Switzerland-based Zurich Insurance Group, Vargas’ compensation is not publicly disclosed in U.S. SEC filings.
According to Nebraska Department of Insurance filings, Vargas received $3,352,972 in reported compensation for 2023 (his first year as CEO). However, this figure is likely incomplete as it only captures compensation from Farmers entities operating in Nebraska and does not include salary earned as CEO of Farmers Group, Inc. itself. His predecessor Jeff Dailey earned $7,980,763 in his final year (2022) in similar Nebraska filings.
Farmers Insurance CEO Compensation Summary
| Component | Details |
|---|---|
| Nebraska-Filed Compensation (2023) | $3,352,972 |
| Predecessor Compensation (2022) | $7,980,763 (Jeff Dailey) |
| Estimated Total Package | $8-12 Million (est.) |
| Estimated Net Worth | ~$5 Million |
| SEC Filings | Not required (private subsidiary of Zurich) |
| Disclosure Source | Nebraska Dept. of Insurance filings |
Key Insight: Farmers Group is a privately held subsidiary of Zurich Insurance Group (Switzerland), meaning CEO compensation is not subject to U.S. SEC disclosure requirements. The Nebraska filing figure of $3.35M for 2023 likely represents only a partial view of Vargas’ total compensation.
Farmers Insurance Financial Summary
Farmers Insurance is one of the largest property and casualty insurers in the United States, with approximately $28.4 billion in gross premiums written in 2024. Under Raul Vargas’ leadership, the company achieved a remarkable profitability turnaround in 2024.
| Metric | 2024 | 2023 | YoY Change |
|---|---|---|---|
| Gross Premiums Written | $28.4B | $27.4B | ▲ +3.7% |
| Revenue (est.) | ~$26.6B | ~$25B | ▲ Growing |
| Combined Ratio (Adjusted) | 89.9% | 106.5% | ▲ -16.6 pts |
| Financial Leverage | ~26% | ~34% | ▲ Improved |
| Employees | ~21,000 | ~21,000 | ~0% |
| Exclusive Agents | 48,000+ | 48,000+ | — |
| A.M. Best Rating | A (Excellent) — Stable outlook | ||
| S&P Rating | A — Positive outlook (upgraded June 2025) | ||
Turnaround Story: Farmers’ adjusted combined ratio improved by 16.6 percentage points in 2024, driven by rate increases, improved risk selection, expense reductions, and disciplined underwriting. S&P upgraded the outlook to Positive in recognition of the restored profitability.
Farmers Insurance Competitors
Farmers Insurance operates in the highly competitive U.S. property and casualty insurance market. Key competitors include:
- State Farm — The largest U.S. P&C insurer by premiums
- Allstate — Major personal lines competitor
- GEICO (Berkshire Hathaway) — Leading direct auto insurer
- Progressive — Fast-growing auto and home insurer
- USAA — Military-focused insurer
- Liberty Mutual — Diversified global insurer
- Nationwide — Mutual insurer with P&C focus
- American Family Insurance — Regional mutual insurer
Raul Vargas Education & Early Life
Raul Vargas was born in Argentina and earned a Bachelor’s degree in Actuarial Science and Economics from the University of Buenos Aires in 2001. The University of Buenos Aires (UBA) is the largest university in Argentina and consistently ranked among the top universities in Latin America.
His actuarial foundation combined with extensive international experience across Latin America, Europe, and the United States has given him a uniquely global perspective on insurance leadership. Vargas began his career at Zurich Insurance Group in 1997 as a Life Actuary in Argentina, even before completing his degree, and quickly rose through increasingly senior roles across multiple countries.
Education Summary
| Institution | Degree / Program | Year |
|---|---|---|
| University of Buenos Aires | B.S. Actuarial Science & Economics | 2001 |
Raul Vargas Personal Life
Raul Vargas brings an unusually international background to leading a major U.S. insurer. During his career at Zurich Insurance Group, he lived and worked in Argentina, Italy (Milan), the United States (Miami), and Spain (Madrid) before settling in the Los Angeles area to lead Farmers Group from its Woodland Hills, California headquarters.
He is one of the few Fortune 500-level CEOs born in Argentina, and his career took him to five countries on three continents before arriving at Farmers Insurance. Personal details about his family life remain private.
How to Contact Raul Vargas — Farmers Insurance CEO Email
Below are the contact details for Farmers Insurance CEO Raul Vargas:
| Raul Vargas — Contact Information | |
|---|---|
| Email Address | [email protected] |
| Corporate HQ | 6301 Owensmouth Ave, Woodland Hills, CA 91367 |
| Phone | (323) 932-3200 (Farmers Group main) |
| Website | farmers.com |
| Raul Vargas — CEO at Farmers Group, Inc. | |
| Newsroom | newsroom.farmers.com |
About Farmers Insurance
Farmers Insurance is one of the largest insurer groups in the United States. Founded in 1928 by Thomas Leavey and John C. Tyler, the company is headquartered in Woodland Hills, California. Farmers Group, Inc. is a subsidiary of Zurich Insurance Group (Switzerland) and manages the Farmers Exchanges, which are owned by their policyholders.
The Farmers Exchanges collectively write over $28 billion in annual premiums across property and casualty, life, and financial services products. The company serves customers through a network of more than 48,000 exclusive agents and approximately 21,000 employees across the United States.
| Detail | Information |
|---|---|
| Founded | 1928 |
| Founder(s) | Thomas Leavey & John C. Tyler |
| Headquarters | Woodland Hills, California |
| Parent Company | Zurich Insurance Group (Switzerland) |
| CEO | Raul Vargas (since Jan 2023) |
| Employees | ~21,000 |
| Agents | 48,000+ exclusive agents |
| Premiums Written (2024) | $28.4 Billion |
| A.M. Best Rating | A (Excellent) |
Frequently Asked Questions (FAQ)
Who is the CEO of Farmers Insurance?
Raul Vargas has been President and CEO of Farmers Group, Inc. since January 1, 2023. He succeeded Jeff Dailey and became the 13th CEO in the company’s history. Vargas brings over 25 years of international insurance leadership experience from Zurich Insurance Group.
What is Raul Vargas’ net worth?
As of 2026, Raul Vargas’ net worth is estimated at approximately $5 million, based on his executive compensation and long career in the insurance industry. His exact compensation is not publicly disclosed since Farmers Group is a private subsidiary of Zurich Insurance Group.
What is Raul Vargas’ salary at Farmers Insurance?
Raul Vargas’ full compensation is not publicly disclosed. Nebraska insurance filings show $3,352,972 in reported compensation for 2023, but this figure is likely incomplete. His predecessor Jeff Dailey earned $7.98 million in similar filings, and the full CEO compensation package is estimated at $8-12 million annually.
What is Farmers Insurance CEO’s email address?
Farmers Insurance CEO Raul Vargas can be reached at [email protected]. The company’s headquarters address is 6301 Owensmouth Ave, Woodland Hills, CA 91367.
Who owns Farmers Insurance?
Zurich Insurance Group (Switzerland) owns Farmers Group, Inc. Farmers Group manages the Farmers Exchanges, which are reciprocal insurers owned by their policyholders. This structure means the Exchanges are policyholder-owned while the management company is Zurich-owned.
Where is Raul Vargas from?
Raul Vargas was born in Argentina and studied at the University of Buenos Aires before building an international career at Zurich Insurance Group across Latin America, Europe, and the United States.
Article last updated: March 5, 2026
Disclaimer: All information presented in this article has been compiled from publicly available sources, including state insurance filings, corporate press releases, and reputable news outlets. Net worth figures are estimates and may vary by source. This content is provided for informational purposes only and does not constitute financial or investment advice.