state auto News

Texas-Based CAA Sees Nearly 20% Premium Growth in Q3 2011

Combined Agents of America LLC (CAA), headquartered in Austin, Texas, reported 19.5 percent growth in written property/casualty premiums in the third quarter of 2011, compared with the same period in 2010. CAA, whose 47 agency members are based in Texas, …

State Auto Enters Quota Share Agreement for Homeowners Business

State Auto Financial Corp., based in Columbus, Ohio, announced that the State Auto Group has entered into a quota share reinsurance agreement with a syndicate of reinsurers covering its homeowners book of business. The three-year agreement was effective Dec. 31, …

State Auto Financial: Changes to Pooling Agreement Approved

State Auto Financial Corp. has received regulatory approval for proposed changes to the intercompany reinsurance pooling agreement for the State Auto Group, the company reports. With all necessary regulatory approvals from various departments of insurance having been secured, the pooling …

Rockhill Hires Zillgitt as Marketing, Business Development Leader

The Rockhill Insurance Group has hired Garick Zillgitt as its vice president of marketing and business development. Zillgitt has nearly 30 years of wide-ranging industry experience with insurers, reinsurers, and brokers, and will be responsible for cultivating and strengthening Rockhill’s …

Haigood to Head Texas Fire and Casualty Insurer Association

Lyndell Haigood, regional vice president of State Auto Insurance Co., has been elected president of the Association of Fire and Casualty Companies in Texas (AFACT). Haigood was elected during AFACT’s annual meeting in Dallas Nov. 10. Haigood, whose term as …

S&P Lowers State Auto Group’s Operating Company Ratings to ‘BBB+’

Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on the operating insurance companies of State Auto Group to ‘BBB+’ from ‘A-‘. S&P also lowered its counterparty credit rating on State Auto Financial Corp. to …

State Auto Financial Reports Loss of $58.7M in Q3

Columbus, Ohio-based State Auto Financial Corp. has reported a third quarter 2011 net loss of $58.7 million, or $1.46 per diluted share, versus net income of $0.2 million, or $0.00 per diluted share, for the third quarter of 2010. “This …

State Auto Financial Estimates Around $60M in Cat Losses in Q3

State Auto Financial Corp. estimates its third quarter 2011 results will include between $60 million and $63 million in pre-tax catastrophe losses, which includes approximately $25 million of prior period development from second quarter 2011 catastrophes. Catastrophic events during the …

State Auto Reports Increase in Net Loss and Premium Written in Q2

Columbus, Ohio-based State Auto Financial Corp. reported a second quarter 2011 net loss of $201.4 million, or $5.01 per diluted share, versus a net loss of $26.2 million, or $0.66 per diluted share, for the second quarter of 2010. STFC’s …

State Auto Financial Updates Estimate of Q2 Storm Impact

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 …