Exhibit 99
Analyst contact:
Dennis E. McDaniel
Vice President, 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
Liberty contact:
John Cusolito
617-574-5512
For Immediate Release
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LIBERTY MUTUAL GROUP RECEIVES INSURANCE REGULATORY
APPROVALS FOR ACQUISITION OF OHIO CASUALTY CORPORATION
BOSTON, MASS. AND FAIRFIELD, OHIO - AUGUST 20, 2007 - Liberty Mutual Group
and Ohio Casualty Corporation (NASDAQ: OCAS) today announced that Liberty
Mutual Group has received approvals from the State of Ohio Department of
Insurance and the State of Indiana Department of Insurance for the
acquisition by Liberty Mutual Insurance Company of Ohio Casualty
Corporation. The parties expect to close the acquisition on Friday,
August 24, 2007.
About Liberty Mutual Group
Boston-based Liberty Mutual Group is a diversified global insurer and sixth
largest property and casualty insurer in the U.S. based on 2006 direct
written premium. The Company also ranks 95th on the Fortune 500 list of
largest corporations in the U.S. based on 2006 revenue. As of December 31,
2006, Liberty Mutual Group had $85.5 billion in
consolidated assets, $74.6 billion in consolidated liabilities, and $23.5
billion in annual consolidated revenue.
Liberty Mutual Group offers a wide range of insurance products and
services, including personal automobile, homeowners, workers compensation,
commercial multiple peril, commercial automobile, general liability, global
specialty, group disability, assumed reinsurance, fire and surety.
Liberty Mutual Group (www.libertymutual.com) employs over 39,000 people in
more than 900 offices throughout the world.
About Ohio Casualty Corporation
Ohio Casualty Corporation is the holding company of The Ohio Casualty
Insurance Company, which is one of six property-casualty insurance
companies that make up the Ohio Casualty Group, collectively referred to as
the Consolidated Corporation. The Ohio Casualty Insurance Company was
founded in 1919 and is licensed in 49 states. Ohio Casualty Group is
ranked 50th among U.S. property/casualty insurance groups based on net
premiums written (Best's Review, July 2007). 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 had assets of
approximately $5.7 billion as of June 30, 2007.
Ohio Casualty Group is the marketing brand for our six property/casualty
insurance companies, which are licensed to write auto, home and business
insurance. Policies are written through the independent agency system. The
oldest company, The Ohio Casualty Insurance Company, was founded in 1919.
Rated A (Excellent) for financial strength by the A.M. Best Company, Inc.,
the Group has written premiums of approximately $1.42 billion as of Dec.
31, 2006. OCG products are marketed through approximately 3,400 independent
agencies.
Cautionary Notice Regarding Forward Looking Statements
Certain statements in this press release contain forward-looking
statements, including statements relating to results of operations. These
forward-looking statements are based on current expectations, estimates,
forecasts and projections of future company or industry performance based
on management's judgment, beliefs, current trends and market conditions.
Actual outcomes and results may differ materially from what is expressed,
forecasted or implied in any forward-looking statement. Forward-looking
statements made by Liberty Mutual Group or Ohio Casualty Corporation may be
identified by the use of words such as "will," "expects," "intends,"
"plans," "anticipates," "believes," "seeks," "estimates," and similar
expressions. There are a number of risks and uncertainties that could cause
actual results to differ materially from the forward-looking statements
included in this document. For a further discussion of these and other
risks and uncertainties affecting Liberty Mutual, see Liberty Mutual's
website at www.libertymutual.com/investors. For a further discussion of
these and other risks and uncertainties affecting Ohio Casualty
Corporation, see the "Risk Factors" section in Ohio Casualty Corporation's
most recent annual report on Form 10-K and other filings with the
Securities and Exchange Commission. Ohio Casualty Corporation and Liberty
Mutual
Group undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events or
otherwise. Readers are cautioned not to place undue reliance on these
forward-looking statements.
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