State Auto Financial Corp. estimates that its third quarter 2011 results will include between $60 million and $63 million in pre-tax catastrophe losses, some from second quarter catastrophes.
STFC, which operates in Maryland, New Jersey, New York, Pennsylvania, Virginia, among other states, and Washington, D.C., said its third quarter pre-tax catastrophe losses include about $25 million of prior period development from second quarter catastrophes.
Catastrophic events during the third quarter included Hurricane Irene (about $16 million), wildfires, the East Coast earthquake and others. Prior to 2011, STFC’s historic five-year average catastrophe losses for the third quarter are about $25 million.
In August, the company posted its 81st consecutive quarterly dividend.
STFC, based in Columbus, Ohio, said it expects to release its third quarter 2011 results Nov. 1.
Second quarter catastrophes bleeding into State Auto’s third quarter via IFAwebnews.com .
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