Filed Under:Markets, Personal Lines

State Auto to Seek Homeowners Rate, Quota Share Reinsurance

State Auto Financial Corp.’s CEO says the insurer will seek a 20 percent price increase in 2012 in order to keep up with historic loss trends, and the company is turning to the reinsurance market for a quota-share treaty.

“Even after increasing prices by more than 30 percent over the last three years, we’ll need another 20 percent price increase,” Chairman and CEO Bob Restrepo said during a Nov. 8 conference call.

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