State Automobile Mutual Completes Affiliation with Patrons Mutual
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State Automobile Mutual Insurance Company today completed its
affiliation with the Patrons Mutual Group of Connecticut, which includes
both the Patrons Mutual Insurance Company of Connecticut and Litchfield
Mutual Fire Insurance Company. With the affiliation, the operating
territory of the State Auto Insurance Companies expands to 33 states.
The Patrons Mutual Group writes approximately $50 million in direct
written premium through approximately 200 independent insurance agencies
in Connecticut, Massachusetts, Rhode Island, and Vermont. The
transaction was announced on September 13, 2007.
"Working closely with the Patrons team and
meeting their independent agencies in recent months has confirmed our
expectation that this affiliation will be virtually seamless given our
very similar cultures and operating philosophies,”
said State Auto Chairman, President and CEO Bob Restrepo. "The
addition of Patrons to the State Auto group enhances our geographic
spread and develops a new source of profitable growth. Policyholders of
Patrons and Litchfield will gain access to new products and services and
a strong balance sheet, while enjoying a strong local presence of
quality people and responsive service.” The State Auto Insurance Companies, headquartered in Columbus, Ohio,
are engaged primarily in writing personal and business insurance
products exclusively through approximately 3,400 independent insurance
agencies in 33 states and are proud to be a Trusted Choice®
company partner. The State Auto Insurance Companies include State Auto
Financial Corporation (NASDAQ:STFC) and State Automobile Mutual
Insurance Company, which is one of only 14 companies to be rated A+
(Superior) by the A.M. Best Company every year since 1954. Additional
information can be found online at StateAuto.com.
