State Auto Financial Corp. estimated today that its first-quarter financial results will include between $10 million and $12 million in pretax catastrophe losses related to storm activity.
The Columbus, Ohio-based company has also set preliminary estimates for catastrophic storm activity occurring in the first two weeks of April at between $22 million and $28 million in pretax losses.
STFC Chairman Bob Restrepo said the first-quarter catastrophe losses were fairly typical. "However, the storms that hit the Midwest in the first two weeks of April will contribute significantly more losses to STFC's second-quarter 2006 results than the relatively low $3.2 million of catastrophe losses posted for the second quarter in 2005," he said.
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