This is all you need to know about SF and MT's $20 million dollar bonus in 2020 and $24.5 million dollar bonus in 2021, on top of his almost $8 million dollar a year salary! Yes it is stealing! We are a mutual company! Bring this up to your TM or SM the next time they try to give you a rah rah speak! Time people finally say something and stop ignoring what everyone sees working here! Complain, Unionize, call the code of conduct line, ask the questions in the Slido Surveys...put in the comments in Voice and View.
"The S&P GMI analysis said that the largest group member, State Farm Mutual Automobile Insurance Co., by itself, contributed $4.2 billion in underwriting losses to the group total. This amount ranks as the largest single-quarter loss for any individual insurance company in at least 21 years, eclipsing $3.4 billion in underwriting losses recorded by Allstate Insurance in third-quarter 2005 (as a result of Hurricane Katrina), according to the S&P GMI analysis.
The S&P Global Market Intelligence analysis ranks last year’s $4.7 billion underwriting loss for State Farm group as the 10th largest full-year loss on a ranking of P/C underwriting losses for the last two decades"