Current and prior-year deterioration sends State Auto to operating loss

State Auto followed up a first quarter earnings miss with a
second quarter operating loss as its combined ratio deteriorated on
accident year losses and prior-year adverse development.
Underwriting returns slipped further into the red for the second
quarter as the personal and commercial auto writer reported a 114.7
percent combined ratio, a marked deterioration from the 106.1
percent it reported for the same period last year.
The carrier fell to a Q2 operating loss of $24.6mn, compared to
the..