State Farm reports improved finances in 2018

Posted on March 1, 2019
State Farm
Fewer catastrophic losses contributed to the improved finances in 2018 for State Farm. (WJBC file photo)

By Greg Halbleib

BLOOMINGTON – State Farm reports a profitable 2018 with a $6.3 billion operating gain before taxes.

The Bloomington-based insurance and financial company reported the positive numbers included a property-casualty underwriting gain of $1.7 billion combined with investment and other income of $4.7 billion. Lower losses including fewer catastrophic losses contributed to the underwriting gain after State Farm reported an underwriting loss of $6.5 billion in 2017.

Total revenue for the year increased $3.4 billion to $81.7 billion. Net income grew to $8.8 billion for the year. State Farm’s net worth grew by almost $4 billion to $100.9 billion.

Greg Halbleib can be reached at [email protected]. 

 

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