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State Auto considers sale of E&S insurance business
September 8, 2017 / 12:57 PM / 3 months ago

State Auto considers sale of E&S insurance business

(Reuters) - Property and casualty insurer State Auto Financial Corp (STFC.O) said on Friday it was considering options for its excess and surplus lines business, including a sale.

The review includes Rockhill Insurance Co, which State Auto acquired in 2009 to enter the E&S market.

    The E&S business comes under specialty insurance, the smallest among the Columbus, Ohio-based company’s three units.

    State Auto, which has a market valuation of about $981 million, said it had retained Keefe, Bruyette & Woods to advise on the evaluation.

    Reporting by Nikhil Subba in Bengaluru; Editing by Maju Samuel

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