State Auto Financial Corp. (STFC) said it estimates first quarter results will include between $19 million and $21 million in pre-tax catastrophe losses. This estimate reflects anticipated recoveries under the State Auto Group's property catastrophe excess of loss reinsurance agreement and homeowners quota share reinsurance arrangement.
These catastrophe losses primarily related to the early March tornado, wind and hail activity in the southern United States that moved into the Ohio Valley region. Approximately 85% of these losses came from the states of Kentucky, Indiana and Tennessee.
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