The Run-Off segment includes structured settlements, pension risk transfer contracts, certain company-owned life insurance policies, funding agreements and universal life with secondary guarantees.

It's been a long slide for Clark, whose sales of company-owned life insurance have been hurt by a narrow gap between short- and long-term interest rates. Since a 1998 initial public offering ...

and is instead owned by its policyholders. The company is made up of 14 property-casualty insurance companies and two life insurance companies. As of 2024, about 64% of State Farm’s business is ...