State Auto Financial (STFC) Sees $60-$63 Million in Catastrophe Losses in Q3
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Financial Fact:
Net investment income: 19.1M
Today's EPS Names:
EDXC, BICX, FBPI, More
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State Auto Financial Corporation (NASDAQ: STFC) today 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 (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.
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.
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