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"Great Year" For State Farm Insurance

Fri, 28 Feb 2014 13:31:52 CST
By: Charlie Schlenker

State Farm Insurance is reporting gains in net income, net worth, and underwriting premiums last year. Bloomington Normal's largest employer benefitted from a friendly stock market as the company's net worth increased more than $10 billion to a total of nearly $76 billion.

Company spokesman Dick Luedke says net income of $5.2 billion was up by 40% from the previous year. And Luedke says State Farm also saw an underwriting gain of $230 million. That's the first gain in that category since 2007 and compares to a loss of $1.7 billion in 2012.

State Farm indicates last year was also a relatively mild year for catastrophe claims. No single disaster made the company's top 25 list and Luedke says claims were in line with expectations.


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