255 results

State Auto Financial reports reserve strengthening on program business in run-off and entering into adverse development cover reinsurance agreement

COLUMBUS, Ohio - January 20, 2015 - State Auto Financial Corporation (Nasdaq:STFC) today announced that prior year loss and loss expense reserves will be strengthened by approximately $72 million pre-tax to be reflected in the fourth quarter of 2014 on program business written through Risk Evaluation & Design LLC (RED), a wholly owned subsidiary of State Automobile Mutual Insurance Company. The increase relates primarily to the two largest RED programs, the terminated restaurant and

State Auto Financial reports fourth quarter and year 2014 results

Quarterly income of $1.58 per diluted share Quarterly GAAP combined ratio of 113.3 Return on equity of 13.0% Book value per share of $21.32 Columbus, Ohio (February 19, 2015) - State Auto Financial Corporation (Nasdaq: STFC) today reported fourth quarter 2014 net income of $65.4 million, or $1.58 per diluted share, versus net income of $16.4 million, or $0.40 per diluted share, for the fourth quarter of 2013. Net income from operations per diluted share for the fourth quarter 2014 was $1

State Auto Financial declares 95th consecutive quarterly dividend

Columbus, Ohio (March 6, 2015) - Today the board of directors of State Auto Financial Corporation (NASDAQ:STFC) declared a regular quarterly cash dividend of $0.10 per share, payable March 30, 2015, to shareholders of record at the close of business on March 19, 2015. This is the 95th consecutive quarterly cash dividend declared by the company's board since STFC had its initial public offering of common stock in 1991. State Auto Financial Corporation, headquartered in Columbus, Ohio, is a

Michael E. LaRocco to become State Auto President and CEO

Columbus, Ohio (March 30, 2015) - The boards of directors of State Auto Financial Corporation (NASDAQ:STFC) and State Automobile Mutual Insurance Company (State Auto Mutual) today announced the hiring of Michael E. LaRocco, 58, effective April 27, 2015. His duties as president and chief executive officer will commence on May 8, 2015. Current President, CEO and Chairman Robert P. Restrepo Jr. will work closely with LaRocco during the transition and remain as chairman until his retirement on Dec

State Auto Financial announces first quarter 2015 earnings conference call

COLUMBUS, Ohio - April 16, 2015 - State Auto Financial Corporation (Nasdaq:STFC) will discuss its first quarter 2015 results in a conference call on Thursday, April 30, 2015, at 11 a.m. ET. The company plans to release its results on April 30, 2015, before the open of regular trading on the Nasdaq Stock Market. WHAT: STFC first quarter 2015 earnings conference call  WHEN: Thursday, April 30, 2015, at 11 a.m. ET  HOW: Webcast at http://www.StateAuto.com/STFC   REPLAY: Available via the link

State Auto’s response to A.M. Best rating revision

A.M. Best has announced their decision to revise the financial strength rating of the State Auto Insurance Companies to A- (Excellent) with a stable outlook from A (Excellent) with a negative outlook. They cited three factors in their decision:Our five-year operating results.Adverse development on business written through Risk Evaluation & Design LLC (RED) that negatively affected our 2014 results.The potential for additional RED adverse development in 2015.I'm disappointed by

State Auto Financial reports first quarter 2015 results

Columbus, Ohio (April 30, 2015) - State Auto Financial Corporation (NASDAQ:STFC) today reported first quarter 2015 net income of $24.7 million, or $0.60 per diluted share, versus net income of $27.1 million, or $0.66 per diluted share, for the first quarter of 2014. Net income from operations1 per diluted share for the first quarter 2015 was $0.54 versus net income from operations1 per diluted share of $0.49 for the same 2014 period. Operating Results STFC's GAAP combined ratio for the first

State Auto Financial announces property aggregate excess catastrophe reinsurance agreement for personal insurance and business insurance segments

COLUMBUS, Ohio - January 6, 2015 - State Auto Financial Corporation (Nasdaq:STFC) today announced that the State Auto Group has entered into a one year property aggregate excess catastrophe reinsurance agreement, effective Jan. 1, 2015, with a syndicate of reinsurers covering property business underwritten by its personal insurance and business insurance segments, including automobile physical damage. This aggregate excess reinsurance agreement replaces the State Auto Group's homeowner quota

State Auto Financial reports reserve strengthening on program business in run-off and entering into adverse development cover reinsurance agreement

COLUMBUS, Ohio - January 20, 2015 - State Auto Financial Corporation (Nasdaq:STFC) today announced that prior year loss and loss expense reserves will be strengthened by approximately $72 million pre-tax to be reflected in the fourth quarter of 2014 on program business written through Risk Evaluation & Design LLC (RED), a wholly owned subsidiary of State Automobile Mutual Insurance Company. The increase relates primarily to the two largest RED programs, the terminated restaurant and

State Auto Financial reports fourth quarter and year 2014 results

Quarterly income of $1.58 per diluted share Quarterly GAAP combined ratio of 113.3 Return on equity of 13.0% Book value per share of $21.32 Columbus, Ohio (February 19, 2015) - State Auto Financial Corporation (Nasdaq: STFC) today reported fourth quarter 2014 net income of $65.4 million, or $1.58 per diluted share, versus net income of $16.4 million, or $0.40 per diluted share, for the fourth quarter of 2013. Net income from operations per diluted share for the fourth quarter 2014 was $1

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