State Auto Financial Corp. announced that it estimates that May storms would contribute about $23 million to $26 million pre-tax to losses in the second quarter, adding 10 to 11 direct-loss ratio points to second quarter results.
The first two weeks of the month were adversely impacted by severe weather patterns in much of State Auto’s operating territory. High winds, tornadoes, hail, lightning and resulting fires caused damage in 17 of the company’s 26 operating states between May 2 and May 12.
State Auto, headquartered in Columbus, Ohio, is scheduled to release second quarter results on July 31, 2003.
Topics Auto Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
Aon Adds to List of Brokers Suing Howden US for Alleged Poaching, Theft 
‘Door Knocker’ Roofers Were Everywhere. NC Farm Bureau Saw an Opportunity 
Trump to Issue Order Creating National AI Rule 
Florida Jury Returns $779M Verdict for Family of Security Guard Killed at Gambling Cafe 
