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 third quarter included Hurricane Irene (approximately $16 million) and other catastrophe events. Prior to 2011, STFC’s historic five-year average catastrophe losses for the third quarter are approximately $25 million.
STFC expects to release its third quarter 2011 results on Nov. 1, 2011.
Popular Today
- Viewpoint: Commercial P/C Talent Gap 5 Years On—Are We Asking the Right Question
- Judge Says Smucker’s Lawsuit Against Trader Joe’s Over Frozen PB&J Can Proceed
- Aon Acquires USI Insurance From KKR in $17 Billion Deal Targeting Middle Market
- Federal Judge Cautions State Farm Against Gambling With Courts