State Farm Insurance of Bloomington, Ill. has announced that it has begun offering 10 State Farm mutual funds in North Carolina, Virginia, Missouri and Kansas. State Farm Insurance plans to offer the mutual funds to customers throughout the United States by March, according to the company.
In the last few years, State Farm Insurance has actively been expanding into other financial services besides insurance, said Susan D. Waring, vice president of State Farm Mutual Funds.
The company has been offering mutual funds to its employees and agents since 1968. However, the 10 new funds constitute the company's first public offering of mutual funds.