Ohio-based, regional insurance carrier State Auto Financial Corporation (STFC) announced its preliminary estimate of the impact of catastrophe losses on its third quarter results. The company estimates 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, totaling approximately $16 million.
Prior to 2011, STFC’s historic five-year average catastrophe losses for the third quarter are approximately $25 million.
Source: State Auto Financial Corporation
Was this article valuable?
Here are more articles you may enjoy.
The Data Behind Rising Homeowners Premiums: by Peril and by State 
Tennessee Eyes Claims Denials, Florida Offers to Check Contracts with Adjusters in Wake of Hurricanes 
Allstate Turns in Net Income of $1.2B After Q3 Hurricanes 
J&J’s $8.2 Billion Talc Settlement Faces January Court Test 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.