The country’s largest and most profitable property-casualty insurer saw revenue and profits grow in 2017. State Farm’s revenue grew by nearly 3% to $78.3 billion. The company’s profits also bounced back after a particularly expensive year for auto insurance claims costs in 2016, increasing more than 500% to $2.2 billion. The insurance company, which employs more than 65,000 workers, recently announced it would cut insurance rates in states like Louisiana and Ohio.
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