SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 28, 2000 (September 28, 2000)
STATE AUTO FINANCIAL CORPORATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Ohio 0-19289 31-1324304
---- ------- ----------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
518 East Broad Street, Columbus, Ohio 43215-3976
- ------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (614) 464-5000
No Change
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Item 5. Other Events.
- ------- -------------
The information contained in the press release filed as Exhibit 99 is
incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
- ------- ----------------------------------
(c) Exhibits.
Exhibit
No. Description of Exhibit
- ------- ----------------------
99 Press release issued September 28, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
STATE AUTO FINANCIAL CORPORATION
Date: September 28, 2000 By /s/ Robert L. Bailey
-----------------------------------
Robert L. Bailey, Chairman
EXHIBIT INDEX
Exhibit
No. Description of Exhibit
- ------- ----------------------
99 Press release issued September 28, 2000.
EXHIBIT 99
Contact: James E. Duemey, CFA
Vice President
Manager of Investor Relations
(614) 464-5373
STATE AUTO FINANCIAL CORPORATION EXPECTS STORMS AND
LARGE LOSSES TO IMPACT EARNINGS
Columbus, Ohio (September 28, 2000) -- A combination of Midwest storms and a
small number of severe commercial losses will negatively impact loss ratios for
the third quarter, State Auto Financial Corporation (NASDAQ: STFC) reported
today. These claims are expected to reduce earnings per share for the quarter by
approximately 10 to 13 cents. The consensus estimate, as published by Nelson
Information/Thomson Financial, was 28 cents per share.
Chairman Robert L. Bailey stated, "We are disappointed that our streak of eight
straight quarters of underwriting profit will be interrupted, but we are
confident that our core underwriting and pricing strategies are sound and being
well executed."
State Auto Financial Corporation is a regional property and casualty insurance
holding company engaged primarily in writing personal and commercial automobile,
homeowners, commercial multi-peril, worker's compensation and fire insurance.
The Company currently markets its products through more than 13,100 agents
associated with approximately 2,200 agencies in 26 states. Products are marketed
primarily in the Midwest and Eastern United States, excluding New York, New
Jersey and the New England states.
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 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 promulgation's, 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.