State Farm Insurance
RANK
44
The insurance provider earned $89 billion in revenue in 2022, making it the biggest company by revenue in the U.S. property and casualty insurance sector. At the same time, State Farm posted sizable operating losses in its auto insurance business, as inflation drove up the cost of auto repair claims.
- The company took a $13.2 billion underwriting loss in 2022 because inflation had made auto parts more expensive.
- In January 2023, the company announced it was moving many IT operations jobs to Indian IT services company HCLTech, including many that were previously based in Bloomington, Ind.
- Because of inflation and rising auto claims rates, the insurer raised rates for some policyholders across the U.S.
Photo Illustration by Igor Golovniov—SOPA Images/LightRocket/Getty Images
Company Information
As of 6/5/23
Country
U.S.
Headquarters
Bloomington, Ill.
Industry
Insurance: Property and Casualty (Mutual)
CEO
Michael L. Tipsord
Website
Company Type
Private
Ticker
-
Revenues ($M)
$89,328
Profits ($M)
$-6,654
Market Value ($M)
-
Employees
60,519
Figures are for fiscal year ended Dec. 31, 2022.
Key Financials (Last Fiscal Year)
$ millions
% change
Revenues ($M)
$89,327.5
8.6%
Profits ($M)
$-6,654.2
-619.5%
Assets ($M)
$318,243
-
Total Stockholder Equity ($M)
$131,394.9
-
Profit Ratios
Profit as % of Revenues
-7.4%
Profits as % of Assets
-2.1%
Profits as % of Stockholder Equity
-5.1%
Earnings Per Share (Last Fiscal Year)
Earnings Per Share ($)
-
EPS % Change (from 2021)
-
EPS % Change (5 year annual rate)
-
EPS % Change (10 year annual rate)
-
Total Return
Total Return to Investors (2022)
-
Total Return to Investors (5 year, annualized)
-
Total Return to Investors (10 year, annualized)
-
State Farm Insurance Rank History
Historical Data
| Year | Revenues ($M) | Profits ($M) | Assets ($M) | Total Stockholder Equity ($M) |
|---|---|---|---|---|
| 2022 | $82,2254.2% | $1,281-65.7% | $325,349 | $143,206 |
| 2021 | $78,898-0.6% | $3,739-33.1% | $299,105 | $126,079 |
| 2020 | $79,395-2.9% | $5,593-36.4% | $294,823 | $116,232 |
| 2019 | $81,7324.3% | $8,788298.3% | $272,518 | $100,878 |
| 2018 | $78,3312.9% | $2,207529.9% | $272,345 | $97,036 |
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