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State Farm Takes Underwriting Loss; Net Income Up

State Farm said it posted an underwriting loss in its auto insurance business of $2.8 billion in 2010, but improvement in the property and casualty segment overall drove a 200 percent increase in net income for the year.

By Chad Hemenway | Updated on March 07, 2011

State Farm said it posted an underwriting loss in its auto insurance business of $2.8 billion in 2010, but improvement in the property and casualty segment overall drove a 200 percent increase in net income for the year.

State Farm reported after-tax net income of $1.8 billion for 2010, compared to $600 million in 2009, the insurer said.

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