TULSA, Okla. –
State Farm Mutual Automobile Insurance Company announced it will pay $5 billion in cash back to customers through a dividend they recently received
State Farm Mutual said that starting this summer, it will make one-time distribution to qualifying customers across more than 49 million State Farm Mutual auto vehicles.
In a statement, Jon Farney, State Farm Mutual President and CEO, said,
“As a mutual company with a customer-first focus, State Farm Mutual is able to provide value directly to our customers while maintaining financial strength to keep our promises in the future. That translated this year to lower auto rates and cash back in the form of a $5 billion policyholder dividend.”
The Oklahoma Insurance Department said that this dividend comes on the heels of two rate reductions on State Farm auto policies last year.
In a statement, Oklahoma Insurance Commissioner Glen Mulready said,
“This is excellent news for Oklahoma policyholders. When insurers perform well and maintain strong underwriting discipline, it creates opportunities like this to benefit customers directly. A dividend of this size demonstrates financial stability, responsible rate management, and a commitment to returning value to policyholders. At a time when families are carefully managing their budgets, an average of $112 per vehicle can make a meaningful difference. We welcome actions that reward consumers and reflect a healthy, competitive insurance marketplace in Oklahoma.”
OID encourages consumers with questions about their coverage or dividend eligibility to contact their agent or State Farm directly. OID remains committed to protecting policyholders and promoting a stable, competitive insurance market.
