State Auto Financial Corporation today announced it estimates that catastrophic storms during the third quarter of 2005 will produce between $42 and $46 million in pre-tax losses for STFC. This is expected to add between 15 and 17 loss ratio points to the quarterly results. The estimate includes approximately $26 million of pre-tax losses from Hurricane Katrina.
Besides losses produced by Hurricane Katrina, the insurer also experienced two sizeable hail storms its north-central operating states.
State Auto Financial Corporation is scheduled to release third quarter results on Oct. 25.
State Auto Financial Corporation, headquartered in Columbus, Ohio, is a regional property and casualty insurance holding company engaged primarily in writing both personal and commercial lines of insurance.
Topics Auto Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Baldwin Group to Go Private After $7.7B Investment Deal 
California Governor Signs Act to Create Smoke Damage Presumption 
Insurance Companies Join Letter to Push TPLF Disclosure in Federal Courts 
Florida Condo Manager, Contractor Charged in Alleged $186,000 Kickback Scheme 
