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Liberty Mutual Holding Company and State Auto Financial (STFC) have announced an agreement for Liberty Mutual to acquire the State Auto Group for $52 per share in cash. This acquisition will enhance Liberty Mutual's market position by adding $2.3 billion in premium and expanding its network through approximately 3,400 independent agencies across 33 states. The transaction is expected to close in 2022, pending approvals from shareholders and regulatory bodies.
State Auto Financial Corporation (NASDAQ:STFC) will host a conference call on August 5, 2021, at 11 a.m. ET to discuss its second-quarter 2021 results. The earnings report will be released before market opening on the same day. Investors can listen to the call via webcast at StateAuto.com/STFC. The company is a super regional property and casualty insurance holding entity, serving customers across the United States through independent agencies. STFC is trading on the NASDAQ Global Select Market.
The board of directors of State Auto Financial Corporation (NASDAQ:STFC) has declared a quarterly cash dividend of $0.10 per share, set for payment on June 25, 2021, to shareholders on record by June 10, 2021. This marks the 120th consecutive quarterly dividend since STFC's IPO in 1991. Based in Columbus, Ohio, State Auto operates as a super regional property and casualty insurance holding company, trading on the NASDAQ Global Select Market. The company's subsidiaries include various firms rated A- (Excellent) by the A.M. Best Company.
State Auto Financial Corporation (NASDAQ:STFC) reported a first quarter 2021 net income of $3.6 million ($0.08/share), rebounding from a net loss of $114.6 million in Q1 2020. However, the net loss from operations per diluted share rose to $0.61 from $0.18 a year prior. The GAAP combined ratio worsened to 112.9 from 107.2, influenced by significant catastrophe losses of $71.6 million, primarily due to winter storms in Texas. Despite these challenges, net written premium grew by 3.5%, driven by a strong 13.0% increase in the commercial insurance segment.
State Auto Financial Corporation (NASDAQ:STFC) announced the retirement of Steven E. English, CFO, effective December 31, 2021, after 21 years with the company. An executive search firm will assist in finding a successor. English joined State Auto in 2001 and has played a key role in its financial growth and transformation. He expressed pride in his team's accomplishments and is committed to a smooth transition. State Auto, based in Columbus, Ohio, is a super regional property and casualty insurance holding company, rated A- (Excellent) by A.M. Best.
State Auto Financial Corporation (Nasdaq:STFC) announced an estimated impact of approximately $80 million to $82 million in net catastrophe losses for Q1 2021, primarily due to winter storms Uri and Viola. The estimated losses include $66 million specifically related to Texas. STFC will release its Q1 2021 financial results on May 6, 2021, before market opening, followed by a conference call at 11:00 a.m. ET. The company is noted for its strong A- (Excellent) rating from A.M. Best.
State Auto Financial Corporation (NASDAQ:STFC) will hold a conference call to discuss its first quarter 2021 results on May 6, 2021, at 11 a.m. ET. Results will be released before the stock market opens on the same day. The call will be available via webcast at StateAuto.com/STFC, with a replay accessible one hour after the call concludes.
The board of directors of State Auto Financial Corporation (NASDAQ:STFC) has declared a quarterly cash dividend of $0.10 per share, payable on March 26, 2021, to shareholders of record as of March 17, 2021. This marks the 119th consecutive quarterly dividend since STFC's IPO in 1991. Headquartered in Columbus, Ohio, State Auto Financial Corporation operates as a property and casualty insurance holding company, providing services across the United States through independent agencies. The company holds an A- (Excellent) rating from A.M. Best.
State Auto Financial Corporation (NASDAQ:STFC) reported a strong fourth quarter in 2020, with net income of $81.8 million, or $1.85 per diluted share—up from $33.2 million or $0.73 a year earlier. However, annual net income fell to $13.1 million, or $0.30 per diluted share, down from $85.8 million, or $1.93 in 2019. The GAAP combined ratio for Q4 was 93.8%, an improvement over 100.0% in Q4 2019. Despite challenges, net written premiums rose 10.7% for the year, driven by personal and commercial segments.
State Auto Financial Corporation (NASDAQ:STFC) will hold a conference call to discuss its fourth quarter and year 2020 results on Thursday, Feb. 18, 2021, at 11 a.m. ET. The earnings announcement is scheduled for the same day before the Nasdaq market opens. Investors can access the conference call via webcast at http://www.StateAuto.com/STFC. This session will provide insights into the company's financial performance, including revenue, earnings per share, and future guidance.
