State Farm Looses $10 (B) in 2008
By: WMBD/WYZZ TV News Staff
Updated: February 27, 2009
WMBD/WYZZ – BLOOMINGTON - State Farm is the latest company to post big losses. Net worth for the insurance giant dropped by $10 billion by the end of 2008. The biggest reason for the decrease was a decline in the value of a stock portfolio. This loss comes after five straight years of net worth increases. State Farms treasurer says despite the losses, the company still has a solid net worth of over $53 billion and its not attributing too much significance to a short term operating loss.
