State Farm Registers $6.3 Billion Net Loss in Challenging 2023 Fiscal Year

March 3, 2024 H. Cutner

Despite attempts to improve results following a substantial $6.7 billion loss in 2022, State Farm, a leading insurance giant, ended 2023 with a $6.3 billion net loss. The company cites a surge in catastrophe claims as a significant factor contributing to their financial results. Elevated Claims and Unfavorable Results The Financial Climate State Farm’s financial report for the year reflects a tumultuous period, as total revenue reached $104.2 billion, yet it was not enough to prevent a net loss. The company’s combined ratio, a key measure of underwriting profitability, rose…

A record year for Lombard International Group: 2019 Financial Results

March 9, 2020December 4, 2020 PR Article

Philadelphia and Luxembourg, 09 March 2020: Lombard International Group, a global leader in wealth and succession planning solutions for high net worth (HNW) individuals, families and institutions, has today announced its financial results for 2019. The Group has delivered a record performance, despite significant geopolitical and economic headwinds across the globe. This is testament to the strength and relevance of the Group’s wealth structuring propositions, global reach combined with local presence, and expertise to deliver customised and specialist solutions to HNW clients and institutions with complex multi-jurisdictional and investment needs.…