Exhibit 99.1
Analyst contact:
Dennis E. McDaniel
Vice President, Financial Accounting and Investor Relations
513-603-2197
dennis.mcdaniel@ocas.com
Media contact:
Cindy L. Denney
Assistant Vice President, Corporate Communications
513-603-2074 (ofc.), 513-703-7372 (cell)
cindy.denney@ocas.com
For Immediate Release
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Ohio Casualty Corporation Appoints
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New Director to its Board
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FAIRFIELD, Ohio, May 23, 2001 -- Ohio Casualty Corporation (NASDAQ: OCAS) has
appointed Edward T. Roeding a member of its Board of Directors, effective May
17, 2001. Mr. Roeding's term will expire in 2004.
Since 1972, Mr. Roeding has served as president and chief executive officer
of Roeding Group Companies, which has offices in Crestview Hills and
Lexington, KY, and Cincinnati, OH. Roeding is made up of four companies that
provide a wide array of financial and insurance services. During his tenure
at Roeding Group Companies, Mr. Roeding has led the Group to increase company
revenues from $50,000 to over $5 million annually and to a ranking in the top
five percent of agents with revenues of over $5 million, according to a Best
Practice study compiled by Reagan Consulting.
"Ted brings to the Board a valuable perspective as a successful businessman,"
commented Chairman of the Board Stanley N. Pontius. "His understanding of the
insurance business, especially from the agents' perspective, will be welcomed
as we pursue our objectives."
A graduate of Thomas More College (Kentucky) with a bachelor's degree in
accounting, Mr. Roeding serves on the Boards of Directors of Transitions,
Inc.; the St. Elizabeth
Medical Center Foundation; and Northern Kentucky Alliance for Education. He
also serves as chairman of the Executive Committee of Peoples Bank of
Northern Kentucky, a firm he helped to found.
Corporate profile
Ohio Casualty Corporation is the holding company of The Ohio Casualty
Insurance Company, which is one of six property-casualty subsidiary companies
that make up Ohio Casualty Group. The Ohio Casualty Insurance Company was
founded in 1919 and is licensed in 49 states. Ohio Casualty Group is ranked
36th among U.S. property/casualty insurance groups based on net premiums
written (Best's Review, July 2000). The Group's member companies write auto,
home and business insurance. Ohio Casualty Corporation trades on the NASDAQ
Stock Market under the symbol OCAS and has assets of approximately $4.49
billion as of Dec. 31, 2000.
Ohio Casualty Corporation publishes forward-looking statements relating to
such matters as anticipated financial performance, business prospects and
plans, regulatory developments and similar matters. The statements contained
in this news release that are not historical information, are forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides a
safe harbor under The Securities Act of 1933 and The Securities Exchange Act
of 1934 for forward-looking statements. The risks and uncertainties that may
affect the operations, performance, development and results of the
Corporation's business include the following: changes in property and
casualty reserves; catastrophe losses; premium and investment growth; product
pricing environment; availability of credit; changes in government
regulation; performance of financial markets; fluctuations in interest rates;
availability and pricing of reinsurance; litigation and administrative
proceedings; ability of Ohio Casualty to integrate and retain business
acquired from the Great American Insurance Company; and general economic and
market conditions.
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