Heard SF teetering on bankruptcy due to mass policy flight and reduction of quality service.
16 replies (most recent on top)
Stop “hearing” and start reading. Best policy growth in years. Somewhere around $120B on hand, and expenses down. Is everybody happy? Absolutely not. But teetering on bankruptcy? Not by a long shot.
This site and its posts never cease to provide me with a good laugh! Do you even know how to read financial and sales reports? This must be another disgruntled claims employee who doesn’t have a clue.
Don't be surprised if India is reconsidered, Allstate and several other companies are moving work over to India and the Biden administration will be easier on companies who have business overseas.
No jobs to India. That was researched and considered. The ultimate cost because of unique Indian regulation and taxation was just too high.
Just announce Rising Rates in some states. Stock Market keeping the ALIVE!!
I doubt the OP, however growth doesn't mean a company is doing well, if your expenses are not under control you will fail no matter how much new business you are getting.
State Farm needs to control expenses and expect that to mean shipping jobs to India.
State Farm just outgrew Geico in Q3 for the first time in 8 years. SF managed threw covid better than anyone in the industry - not even debatable.
We lowered premium, have made 3 billion in operating profit despite all the Cats, and is on pace to grow 1.5million autos.
We have actually lost 800 million in the market, all our profit is due to operations.
This site and people who post like the OP have no business being at SF - the ignornance is breath taking.
Please try to stay informed at some level. The Company will earn a profit in both auto and fire this year. No it is not just the stock market-geeeez.
The only reason this company is profitable with the current leadership is due to the stock market. We are writing so much bad business it’s unbelievable. I see several claims a week were the policy is less than 2 months old and the insured has had a major loss. Growth is no always good.
Wow! The USA would go BK first! Lol at this nonsense.
It is posts like these that throw almost all information on this message board into doubt. There is a lot to hate about the company but denying they are growing and making money hand over fist this year is just stupid. Actively wishing for their demise is non-sensical. You may hate the company and your jobs but you still get your pay every 2 weeks. We need more people like the guy who claims he quit 20 years ago but still comes to this message board to b–ch....
It takes a special kind of stupid.....
I heard you got fired from McDonald’s today for forgetting to put the fries in with the big Mac.
Nice try, we are kicking a– and taking names growth this year off the chart. All other carriers taking rate and looking for cash to pay all the claims.
Really stupid post. Must be an ex employee. Net worth at an all time high and policy growth exceeds all companies. Note, GEIGO has grown more auto YTD but not as much Fire. Not to mention Life.
No.