State Auto Estimates Q1 Storm Impact Could Reach $21M

April 13, 2012

Ohio-based State Auto Financial Corp. has estimated first quarter 2012 results will include between $19 million and $21 million in pre-tax catastrophe losses.

The company announced that the 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 percent of these losses came from the states of Kentucky, Indiana and Tennessee.

STFC expects to release its first quarter 2012 results on May 3, 2012.

Source: State Auto Financial Corp.

 

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