State Farm Gives a $5 Billion Dividend to Auto Insurance Policyholders

State Farm has issued a dividend to auto policyholders. In a statement the company said the dividend totals $5 billion.

“This dividend is possible due to State Farm Mutual’s financial strength and a stronger than expected underwriting performance, which has been reported industry wide,” the company said.

Policyholders can expect about $100 on average. The company is also going to lower premiums by about 10% in 40 states. That’s $4.6 billion in savings.

Source link: CNBC — https://bit.ly/40W6YuG