State Auto Financial, an Ohio-based property and casualty insurer, expects a pre-tax losses of $45m to $50m from the catastrophe storms that hit the US in May.
The insurer said three catastrophes affected 23 of its operating states in May, resulting in auto and property claims caused by tornadoes, wind and hail, including the tornado that struck Joplin, Missouri, on 22 May.
State Auto expects more than 9,000 claims on cars, homes and other property will be filed as a result of this storm.
In addition, the insurer confirmed its earlier estimated impact between $75m to $85m in catastrophe losses related to April storm activity.
Prior to 2011, State Auto’s historic five-year average catastrophe loss ratio for the second quarter is 18% points or $50m of losses.
State Auto Financial president, chairman and CEO Bob Restrepo said last month continued an unprecedented 2011 pattern of deadly and destructive storms, from Joplin, Missouri, to Springfield, Massachusetts.
"From agents whose offices were destroyed to insureds who lost their homes or businesses, State Auto associates are working around the clock to deliver peace of mind in the wake of these tragedies," Restrepo said.