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Global 500

Courtesy of State Farm

85

State Farm Insurance Cos.

U.S.

The largest property-casualty insurer in the U.S. saw its revenue tick up 0.6% to $76.1 billion in 2016, helping it maintain its spot as one of the largest companies in the world. Its profit, however, was a different story. State Farm’s net income dipped to just $400 million in 2016, down from $6.2 billion the year before, thanks to high auto insurance claim costs. (A stock portfolio windfall in 2015 also exacerbated the difference.) It announced in May that it would close 11 facilities and displace thousands of workers following the losses.

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CEO

Michael L. Tipsord

Sector

Financials

Industry

Insurance: Property and Casualty (Mutual)

HQ Location

Bloomington, IL

Years on Global 500 List

23

Employees

68,234

State Farm Insurance Cos. is also featured in these fortune lists
Key Financials (Last Fiscal Year)
($ Millions)% change
Revenues ($M)$76,1320.6%
Profits ($M)$350.3-94.4%
Assets ($M)$256,030
Total Stockholder Equity ($M)$87,592
Profit Ratios
Profit as % of Revenues0.5%
Profits as % of Assets0.1%
Profits as % of Stockholder Equity0.4%