Farmers Insurance announced Monday it will host the annual Tour stop at Torrey Pines through 2014.

Farmers stepped in this year, with hardly any time to prepare, to host the tournament—formerly  sponsored by Buick, who filed for bankruptcy last year. Bob Woudstra, chief executive officer of the insurance company, said in a teleconference today, "It's a very big day for Farmers. When this opportunity came up for the 2010 event, we were very excited even though we had only eight days to prepare."

"Earlier this year, Farmers Insurance rode into San Diego like a knight in shining armor," said Tom Wornham, Century Club president and general chairman. "This agreement adds a wonderful new chapter to this dream-come-true partnership. The Century Club and the city of San Diego are very grateful."