State Farm Mutual Automobile Insurance Co. will pay dividends of just over $1 billion to auto insurance policyholders in 49 states, the District of Columbia and three Canadian provinces. In Texas, State Farm has asked the Texas Department of Insurance permission to return $88 million.
The record-breaking return of premiums betters the previous high of $892 million announced in June in 1998. With this dividend, State Farm will have returned more than $3.3 billion to policyholders in seven dividends since 1991.
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