Powered by

State Farm lost more money than ever insuring cars

Feb 28, 2017 - Chicago Business Journal

State Farm Mutual Automobile Insurance Co., the huge car insurance underwriting division of Bloomington, Illinois-based State Farm, lost $7 billion in 2016 as claims and loss adjustment expenses overwhelmed premium revenues.

The loss, which is the auto segment's worst full year swoon in the company's 95-year history, comes a year after a $4.4 billion auto underwriting loss in 2015.

Despite continuing problems in the auto division, State Farm managed to squeeze out $400 million in net

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox
Related News Feeds

Mentioned Entities

See how you can reach these people and organizations