Production (Stage)
State Farm Genl Ins Co
Major Rating Factors:
Fair reserve development (3.0 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2024 the one year reserve development was 21.0% and 29.7% deficient respectively. Fair overall results on stability tests (4.2) including weak risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 7.0% of capital. Strengths include potentially strong support from affiliation with State Farm Mutual Automobile Ins Co. Fair liquidity (4.9) as cash resources may not be adequate to cover a spike in claims.
Other Rating Factors:
Poor long-term capitalization index (0.1) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the good range over the last two years. Weak profitability index (1.0) with operating losses during 2020, 2022, 2023, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -22.3%.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (75.4%), comm multi (10.6%), fire (3.9%), farmowners (0.4%), other (9.6%)
Licensed in:
All states except CT, MA, RI
Principal Investments:
Investment grade bonds (92.9%), other (7.1%)
Corporate Info
Group Affiliation
State Farm Mutual Automobile Ins Co
Investment Rating
--
Company Address
One State Farm Plaza
Bloomington, IL 61710
Bloomington, IL 61710
Phone Number
(309) 766-2311
NAIC Number
25151
Website
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