Realized capital gains drive net income growth. Auto insurance earned premiums up $1 billion in 2015 versus 2014. Auto underwriting loss widens.
The State Farm property-casualty (P-C) companies reported total revenue, which includes premium revenue, earned investment income, and realized capital gains (losses), was $75.7 billion for 2015 compared with $71.2 billion for 2014. State Farm reported net income of $6.2 billion in 2015, compared with $4.2 billion in net income in 2014. The increase in net income included a $3.0 billion increase in realized capital gains due to two corporate mergers impacting stocks owned within the unaffiliated stock portfolio.
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