State Farm announces $5 billion dividend
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State Farm Mutual Automobile Insurance Company has announced a $5 billion policyholder dividend for its auto customers, marking the largest distribution in the company’s history. The move follows recent rate reductions that the carrier says are already delivering $4.6 billion in annual premium savings across multiple states.
The payments, to be made this summer, will average about $100 per vehicle for qualifying State Farm auto customers.
The insurance company said "positive performance" in the auto business led State Farm Mutual Automobile Insurance Company to issue out the dividends.