Exhibit 99.1
State Auto Financial reports reserve strengthening on program business in run-off and estimate of fourth
quarter earnings
Columbus, Ohio (January 30, 2014) – State Auto Financial Corporation (Nasdaq:STFC) today announced that prior year loss
and loss expense reserves will be strengthened by approximately $15 million for fourth quarter 2013 on program business written through Risk Evaluation & Design LLC (RED), a wholly owned subsidiary of State Automobile Mutual Insurance
Company. The increase relates primarily to a large restaurant program and a commercial auto trucking program, both of which have been terminated and are in run off. The company is estimating that fourth quarter 2013 results will include
approximately $4.1 million in pre-tax net catastrophe losses. Overall, the company is estimating that net income for fourth quarter 2013 will be in the range of $0.38 to $0.41 per diluted share. All of these numbers are unaudited.
STFC expects to release its fourth quarter and year 2013 results on Thursday, Feb. 20, 2014, before the open of regular trading on the Nasdaq Stock Market,
and discuss these financial results in a conference call at 11:00 a.m. ET.
State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super
regional property and casualty insurance holding company and is proud to be a Trusted Choice® company partner. STFC stock is traded on the NASDAQ Global Select Market, which represents the top
third 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, Meridian Citizens Mutual, 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.
Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those
News Release
Contact
Tara Shull
Investor Relations and Finance Director
614.917.4478
F 614.887.1793
Tara.Shull@StateAuto.com
Kyle Anderson
AVP/Director of Corporate Communication
614.917.5497 M 614.477.5301
Kyle.Anderson@StateAuto.com
Corporate Headquarters
518 E. Broad St.
Columbus, OH 43215
614.464.5000
800.444.9950
For additional information:
StateAuto.com/STFC
facebook.com/StateAuto
twitter.com/StateAuto
State Auto Financial news release, Jan. 30, 2014
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projected, anticipated or implied. The most significant of these uncertainties are described in State Auto Financial’s Form 10-K and Form 10-Q reports and exhibits to those reports, and
include (but are not limited to) legislative changes at both the state and federal level, state and federal regulatory rule making promulgations and adjudications, class action litigation involving the insurance industry and judicial decisions
affecting claims, policy coverages and the general costs of doing business, the impact of competition on products and pricing, inflation in the costs of the products and services insurance pays for, product development, geographic spread of risk,
weather and weather-related events, and other types of catastrophic events. State Auto Financial undertakes no obligation to update or revise any forward-looking statements.
