For those who have been following, insurance groups are losing big on auto and home policies. In 2022 State Farm sold $46 Billion in policies but had $43.7 Billion in claims. Add expenses for overhead and processing claims and they lost $13 Billion. The 2023 earnings were announced and WOW, combined underwriting loss of $14 Billion. If you are a State Farm policy holder, get ready for rate hikes...
State Farm Monster Loss Announced ~Insurance
State Farm Monster Loss Announced ~Insurance