Edward
B. Rust, Jr. graduated from Bloomington
High School in 1968. Then he earned a college degree from Illinois Wesleyan
University in Bloomington. Edward holds
a master of business and juris doctor degrees both from Southern Methodist
University in Dallas, Texas.
He
joined State
Farm in 1975 at the Dallas, Texas regional office. Eventually he was appointed president and CEO
and became board chairman. Today he is
the chairman of the board and CEO of State Farm Mutual Automobile Insurance
Company headquartered in Bloomington, Illinois. He is also the president and
CEO of State Farm Fire and Casualty Company, State Farm Life Insurance Company
and other principal State Farm affiliates.
The
insurance business runs through Edward’s blood. His father Edward Sr. and his
grandfather Adlai Rust also led the company before him. Under his leadership,
State Farm had outstanding
results in 2013 with net income increasing by 63 percent. Net worth grew by 16
percent to $75 billion over the same period. This was the highest net worth
achieved in the firm’s entire history.
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