State Farm Reports 2014 Underwriting Loss, Operating Profit

State Farm reported an underwriting loss in 2014, though investment and other income still helped leave it with an operating profit.

The insurer’s combined property/casualty underwriting loss landed at $939 million, or 1.7 percent of nearly $57 billion of earned premium. In 2013, State Farm reported a $230 million underwriting gain and $54.5 billion in earned premium.

State Farm’s net income for 2014 reached $4.2 billion, with total revenue (including premium revenue, earned investment income and realized capital gains) hitting $71.2 billion for the year. That reflects a moderate decline over 2013, when State Farm produced $5.2 billion in net income on $68.3 billion of total revenue.

Additional State Farm results: