Insurance Day
State Farm swings to $6.7bn loss for 2022
US group hit by increased claims severity and adverse prior-period reserve development in its motor insurance segmentÂ
US property/casualty and life group State Farm swung to a net loss of $6.7bn in 2022 from year-earlier income of $1.3bn driven
by increased claims severity and adverse prior-period reserve development in its motor insurance segment.