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Becoming a public company in 1991
- With a commitment to responsible cost-based pricing, conservative investments and sound underwriting practices, State Auto Financial Corporation has maintained a healthy financial record since becoming a public company in 1991.
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State Automobile Mutual Insurance Company, commonly shortened to State Auto Mutual or State Auto, is an American insurance company based in Columbus, Ohio. It was incorporated in 1921 as the first casualty insurance company to be headquartered in Columbus.
Jul 12, 2021 · The public company, with about $1.4 billion of the total written premium, and member-owned mutual insurer making up State Auto each own separate P&C subsidiaries, all of which are joining...
Liberty Mutual Insurance has completed the acquisition of State Auto Group, a super-regional property and casualty insurance holding company headquartered in Columbus, Ohio that distributes personal and small commercial coverages in 33 states through approximately 3,400 independent agents.
Mar 1, 2022 · BOSTON, March 1, 2022 /PRNewswire/ -- Liberty Mutual Insurance has completed the acquisition of State Auto Group, a super-regional property and casualty insurance holding company...
- Origins
- Company Perspectives
- Post-World War II Expansion
- Key Dates
- Public Debut in The 1990s and Uncertainty in The 21st Century
- Principal Subsidiaries
- Principal Competitors
- Further Reading
The company at the center of a billion-dollar tug-of-war in the early 21st century began operating nearly a century earlier, formed with modest resources that hardly suggested the birth of one of the country's largest insurance companies. In 1921, Robert S. Pein borrowed $30,000 and started the State Automobile Insurance Company, the first home-off...
With a commitment to responsible cost-based pricing, conservative investments and sound underwriting practices, State Auto Financial Corporation has maintained a healthy financial record since becoming a public company in 1991. Combined with its focus on providing outstanding service to policyholders and agents, State Auto has earned the reputation...
State Automobile Insurance's postwar growth was highlighted by the expansion of the company's selection of insurance offerings, vigorous geographic expansion, numerous acquisitions, and, for the first time in its history, changes in leadership. Pein began to cede control of his company in 1954, when Paul Gingher, who joined State Automobile Insuran...
1921:
1. Robert Pein opens an insurance office in Columbus, Ohio.
1931:
1. State Automobile Insurance expands beyond Ohio's borders for the first time.
1949:
1. The company's assets exceed $20 million.
Although each decade brought some sort of change to the company, the 1990s stood out from the rest. Expansion resumed in earnest, touched off by a move into Mississippi in 1989, but the decade's most profound event was the public debut of the enterprise Pein had created 70 years earlier. In 1991, the company completed its initial public offering (I...
State Auto Property and Casualty Insurance Company; Stateco Financial Services, Inc.; Milbank Insurance Company; Farmers Casualty Insurance Company; State Auto Insurance Company of Ohio; State Auto National InsuranceCompany; Strategic Insurance Software, Inc.; 518 Property Management and Leasing, LLC; State Automobile Mutual Insurance Company; Stat...
The Allstate Corporation; Prudential Financial, Inc.; State Farm Mutual Automobile Insurance Company.
Cornejo, Rick, "Softening Insurance Market Is Finished Thanks to Katrina, State Auto CEO Says," A.M. Best Newswire, October 25, 2005. Grocer, Stephen, "Icahn Drives into State Auto for a Nice Price," Mergers & Acquisitions Report, May 17, 2004. Mehlman, William, "State Auto Combines Safety, Risk into Winning Combination," Insiders' Chronicle, June ...
Jul 12, 2021 · In connection with the merger of State Auto Financial, State Auto Mutual has entered into a voting agreement with Liberty Mutual under which it has agreed to vote its 58.8% interest in State...
Jul 12, 2021 · Insurer Liberty Mutual reported that it will acquire State Auto Group, a super-regional insurance holding company headquartered in Columbus, Ohio. Under the terms of the agreement, State...
