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Global 500

Courtesy of State Farm Insurance

93

State Farm Insurance Cos.

U.S.

Bloomington, Illinois-based State Farm ended 2015 in the black, buoyed by strong investment gains which more than counteracted an underwriting loss of $4.2 billion. The insurance and financial services firm saw net income soar to more than $2.1 billion — more than double the company’s 2014 net. State Farm has also put its backing behind several burgeoning new, and somewhat controversial, technologies in a bid to modernize the risk assessment model. For instance, the company recently became a customer of the fast-growing drone software startup Airware in order to inspect home rooftops and collect claims data from the skies. It’s also been pushing for drivers who own car insurance policies to put sensors in their vehicles so that State Farm can collect detailed driving data and assess just how much of a risk each of its individual policyholders is.

CEO

Michael L. Tipsord

Sector

Financials

Industry

Insurance: Property and Casualty (Mutual)

HQ Location

Bloomington, IL

Employees

70,425

Years on Global 500 List

22

Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$75,6976.4%
Profits ($M)$6,22948.6%
Assets ($M)$241,183
Total Stockholder Equity ($M)$82,660
Profit Ratios
Profit as % of Revenues8.2%
Profits as % of Assets2.6%
Profits as % of Stockholder Equity7.5%