State Farm announced that in 2019, its property and casualty insurance companies experienced growth in policies while reporting lower earned premium compared to 2018. According to the company the decrease in property-casualty (P-C) earned premium reflects a focus on returning value to customers in the form of lower premiums when appropriate.
The State Farm P-C group of companies reported a combined underwriting gain of $777 million in 2019 on earned premium of $64.8 billion, compared to an underwriting gain of $1.7 billion on earned premium of $65.2 billion in 2018. The 2019 underwriting gain, combined with investment and other income
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