State Auto
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
State Auto distributes personal and small commercial coverages in 33 states through roughly 3,400 independent agents.
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Kim Garland is currently senior vice president of personal and commercial lines and managing director of venture capital fund State Auto Labs.
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Employment data indicates that easy growth and margin expansion may slow soon.
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The deal is the latest in a spate of personal lines M&A, with Allstate and State Farm also active acquirers.
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The transaction transforms Liberty into the second largest player in the US IA market.
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The carrier has retained an executive search firm to find a successor to the CFO.
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The executive says power outages will likely result in further losses.
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The carrier’s personal lines business swung to a profit, while commercial lines results also improved.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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The legal costs outstrip $2.8mn of Covid-19 workers’ comp claims it absorbed during the quarter.
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The carrier’s current accident year loss ratio excluding cats improved by 12.7 points.
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