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
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