B
State Farm FL Ins Co
Rating Date
June 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
Loading...
Major Rating Factors: Good overall profitability index (5.0 on a scale of 0 to 10) despite operating losses during 2020 and 2022. Return on equity has been low, averaging 0.1% over the past five years. Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Other Rating Factors: Excellent overall results on stability tests (7.9). Strengths include potentially strong support from affiliation with State Farm Mutual Automobile Ins Co, good operational trends and excellent risk diversification. A history of deficient reserves (2.7) that places pressure on both capital and profits. In four of the last five years reserves (two year development) were between 17.4% and 30.0% deficient.
Stability Factors: T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Homeowners (85.2%), comm multi (3.4%), other (11.4%)
Licensed in: FL, IL
Principal Investments: Investment grade bonds (95.0%), other (5.0%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
--
Corporate Info
Group Affiliation
State Farm Mutual Automobile Ins Co
Investment Rating
--
Company Address
215 S. Monroe St.
Tallahassee, FL 32301
Phone Number
(850) 577-5600
NAIC Number
10739
Largest Affiliates
A
Bloomington, IL - P&C
A
Bloomington, IL - L&A
B
Bloomington, IL - P&C
B
Bloomington, IL - P&C
A
Richardson, TX - P&C