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State Farm Reports Narrower Annual Loss

From Bloomberg News

State Farm Mutual Automobile Insurance Co., the biggest U.S. auto and home insurer, posted a loss of $2.8 billion in 2002 as claims outstripped premiums and the company lost money in its stock portfolio.

State Farm narrowed its loss from a record $5 billion in 2001 after it cut losses in its homeowner and auto units.


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