State Auto Financial Corporation’s tenth annual meeting featured a recap of 2000, the sixth straight year the company has achieved an underwriting profit.
State Auto Chairman Robert H. Moone stated that while the company had made a decision to sacrifice market share, if necessary, in order to preserve profit, it is now growing at a double-digit pace.
State Auto Mutual’s board of directors also announced the appointment of three new officers. Casualty claim manager Gary Kratzenberg, claims training and procedures manager Booth Muller and property loss manager Gene Roberts were all elected assistant secretaries.
Today, the STFC board declared a regular cash dividend of $0.03 per share, payable on June 29, 2001, to shareholders of record on June 12, 2001. This is the 40th consecutive cash dividend declared by the company’s board since STFC had its initial public offering of common stock on June 28, 1991.
State Auto Financial Corporation is a regional property/casualty insurance holding company engaged primarily in writing personal and commercial automobile, homeowners, commercial multi-peril, workers’ compensation and fire insurance. The company currently markets its products through more than 14,000 agents associated with approximately 2,200 agencies in 26 states. Products are marketed primarily in the Midwest and Eastern United States, excluding New York, New Jersey and the New England states.
Topics Auto Profit Loss New Markets
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