In an updated estimate of the impact of second quarter 2011 catastrophe storm activity, State Auto Financial Corp. said second quarter 2011 results will include between $155 million and $165 million in pre-tax catastrophe losses related to second quarter storm activity.
“We’ve updated our previous preliminary estimate to include catastrophe activity for the entire second quarter, which included unprecedented catastrophe loss experience in April and May,” said STFC President, Chairman and CEO Bob Restrepo. “In addition to including the month of June, our preliminary estimate has increased because of higher damage to property and a greater number of automobile total losses than expected.”
Catastrophe losses were experienced in April, May and June, including the Tuscaloosa, Ala., tornado on April 27 and the Joplin, Mo., tornado on May 22.
Source: State Auto Financial Corp.
Topics Catastrophe Auto Windstorm
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