A pair of large hurricanes and some severe winter weather is getting the blame for massive payouts at State Farm. The Bloomington-based insurance giant yesterday posted a nearly two billion-dollar operating loss for last year. A statement from the company said a large underwriting loss drove the operating loss. State Farm collected almost 64 billion-dollars in premiums, and paid out almost seven billion to customers. Despite the loss, State Farm managers say the company’s overall net worth increased in 2017.
State Farm Posts Operating Loss, Blames Wild Weather

Photo courtesy to State Farm