State Farm Announces $5 Billion Cash Back to Auto Customers State Farm Mutual Automobile Insurance Company has announced it will distribute $5 billion in cash back to auto customers through a policyholder dividend, marking the largest dividend in the company’s history. The payout will be distributed to qualifying customers across more than 49 million State Farm vehicles starting this summer. The initiative follows a significant financial performance that allowed the mutual company to return value to policyholders while maintaining its financial stability. In a statement, Jon Farney, President and CEO of State Farm Mutual, emphasized the company’s commitment to its customer-first approach. He stated that the dividend translates to an average of $100 per qualifying customer, with the funds being distributed as a one-time payment. Farney highlighted that this decision reflects the company’s ability to balance providing immediate value to customers with ensuring long-term financial strength. The Oklahoma Insurance Department praised the move, noting that the dividend comes after two rate reductions on State Farm auto policies in the previous year. Oklahoma Insurance Commissioner Glen Mulready called the initiative “excellent news for Oklahoma policyholders,” emphasizing that the dividend demonstrates financial stability and responsible rate management. Mulready noted that the average payout of $112 per vehicle could provide meaningful relief to families managing their budgets. The Oklahoma Insurance Department (OID) also encouraged consumers with questions about their coverage or eligibility for the dividend to contact their State Farm agent or the company directly. OID reiterated its commitment to protecting policyholders and fostering a stable, competitive insurance market.#state_farm #oklahoma_insurance_department #state_farm_mutual #jon_farney #glen_mulready
