State Auto Financial Responds to A.M. Best Announcement
State Auto Financial Corporation announced a definitive agreement to be acquired by Liberty Mutual, a move endorsed by A.M. Best. CEO Mike LaRocco emphasized the partnership's potential to enhance operations, product expertise, and digital capabilities while expanding its geographical footprint. State Auto, rated A- (Excellent) by A.M. Best, operates as a property and casualty insurance holding company, trading under the ticker STFC on NASDAQ.
- Acquisition by Liberty Mutual may lead to profitable growth.
- A.M. Best's endorsement strengthens investor confidence.
- Expansion opportunities through increased geographic footprint and operations.
- None.
The following is State Auto Financial Corporation Chairman, President and CEO Mike LaRocco’s response to today’s announcement from A.M. Best Company:
“On Monday, we announced a definitive agreement to be acquired by Liberty Mutual . A.M. Best’s decision affirms our belief that our partnership with Liberty Mutual will contribute to the collective success of our associates, policyholders, shareholders and agents. Together, there’s a great opportunity to profitably grow and deliver even greater scale by expanding our geographic footprint, operations, product expertise and digital capabilities.
About State Auto Financial Corporation
State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company. STFC stock is traded on the NASDAQ Global Select Market, which represents the top fourth of all NASDAQ listed companies.
The insurance subsidiaries of State Auto Financial Corporation are part of the State Auto Group. The State Auto Group markets its insurance products throughout the United States, through independent insurance agencies, which include retail agencies and wholesale brokers. The State Auto Group is rated A- (Excellent) by the A.M. Best Company and includes State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, Milbank, Meridian Security, Patrons Mutual, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. Additional information on State Auto Financial Corporation and the State Auto Insurance Companies can be found online at http://www.StateAuto.com/STFC.
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