State Farm to pay dividends
State Farm Mutual Automobile Insurance Co. pay $ 11.3 million of dividends to its customers 119000 auto insurance in Hawaii, a step that could trigger a new wave of reductions in interest rates by the local automobile insurers.
The state’s largest auto-insurance said it would be an average of about $ 95 for each of their policyholders in Hawaii, or 20 percent of the local farm state average of six months into account.
Far Federal, State Farm said, there is a disc of $ 891 million drivers in 35 states and the District of Columbia.
The 20 percent dividend Hawaii is the highest in the nation, with 20 percent distribution rate of Rhode Island, South South Dakota and Utah.
Rey, national commissioner of insurance of that State Farm Graulty’s dividend could lead to a new wave of declining interest rates for local motorists. Given that the state farm east of the island “greater self-insurers, competitors face in order to reduce pressure on their premiums, he said.
“This is good news, because I think it may trigger a new wave of declining interest rates,” said Graulty.
The procession comes to the farm in the Land November last year returned $ 11.6 million in the form of dividends to local customers.
The company also reduced its tariffs for local automobile insurance for an average of 15.2 per cent at the beginning of the year.
Etats-pilot repurchase the highest auto insurance premiums in the nation, an average of more than $ 1000 per car.
But given the recent reforms of insurance and improvements in the conduct of the average premium in Hawaii has slid to about $ 959, is the fourth most expensive in the U.S. market behind New Jersey, the District of Columbia and New York.
Carolyn Fujioka, spokesman for State Farm, said the company benefits from fewer car accidents, drunk, the tightening of tax laws and cars safer.
She noted that reforms in auto insurance for the rule of law has played a small role in the company decided to offer the new securities.
State Farm said that the dividends or failure may be credited to customers of the company the next cycle of renewal.
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