State Auto Financial Reports Estimate of First Quarter Storm Activity Impact
April 13 2012 - 8:30AM
Business Wire
State Auto Financial Corporation (Nasdaq:STFC) today announced
its preliminary estimate of the impact of catastrophe losses on its
first quarter results. The company estimates first quarter 2012
results will include between $19 million and $21 million in pre-tax
catastrophe losses. This estimate reflects anticipated recoveries
under the State Auto Group’s property catastrophe excess of loss
reinsurance agreement and homeowners quota share reinsurance
arrangement.
These catastrophe losses primarily related to the early March
tornado, wind and hail activity in the southern United States that
moved into the Ohio Valley region. Approximately 85% of these
losses came from the states of Kentucky, Indiana and Tennessee.
STFC expects to release its first quarter 2012 results on
Thursday May 3, 2012, before the open of regular trading on the
Nasdaq Stock Market and discuss its first quarter results in a
conference call on Tuesday May 8, 2012 at 10:00 a.m. ET. The call
is being webcast by Thomson Reuters and can be accessed at
http://www.StateAuto.com/STFC. The webcast is also being
distributed through the Thomson Reuters StreetEvents Network.
Individual investors can listen to the call at
http://www.earnings.com/.
State Auto Financial Corporation, headquartered in Columbus,
Ohio, is a super regional property and casualty insurance holding
company and is proud to be a Trusted Choice® company partner. STFC
stock is traded on the Nasdaq Global Select Market, which
represents the top third of all Nasdaq-listed companies.
The insurance subsidiaries of State Auto Financial Corporation
are part of the State Auto Group. The State Auto Group markets its
insurance products in 50 states and the District of Columbia
through independent insurance agencies and brokers. The State Auto
Group is rated A (Excellent) by the A.M. Best Company and includes
State Automobile Mutual, State Auto Property & Casualty, State
Auto Ohio, State Auto Wisconsin, State Auto Florida, Milbank,
Farmers Casualty, Meridian Security, Meridian Citizens Mutual,
Beacon National, Beacon Lloyds, Patrons Mutual, Litchfield Mutual
Fire, Rockhill Insurance, Plaza Insurance, American Compensation
and Bloomington Compensation. Additional information on State Auto
Financial Corporation and the State Auto Insurance Companies can be
found online at http://www.StateAuto.com/.
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