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State Auto Financial : and State Automobile Mutual Announce New Board Chairs

11/18/2015 | 04:01pm US/Eastern

State Auto Financial Corporation (NASDAQ:STFC) today announced that President and CEO Michael E. LaRocco has been named chairman of STFC to succeed current Chairman Robert P. Restrepo Jr. upon his retirement from the STFC board at the end of the year.

STFC’s parent, State Automobile Mutual Insurance Company (SAM), also announced that James E. Kunk, currently its lead independent director, has been named non-executive chairman of SAM to succeed Restrepo upon his retirement from the SAM board at the end of the year

LaRocco was named president and CEO of STFC and SAM in May 2015, when he was also elected a director of both boards. During LaRocco’s more than 35 years in the property and casualty insurance industry, he’s led large national carriers and formed a technology startup. His insurance career began with management and executive roles at Progressive and GEICO. He joined Safeco Insurance Companies in 2001 to lead their personal lines business and was later named president and COO. In 2008, he was named president and CEO of Fireman’s Fund Insurance Company. Before joining State Auto, LaRocco was president and CEO of AssureStart, a Seattle-based technology startup selling general liability and property insurance to small businesses online.

Kunk, currently president of Huntington Bank’s Central Ohio Region, has been a State Auto Mutual director since 2006. He’s held several positions with Huntington since joining the bank in 1981, including executive vice president of commercial and retail banking, senior vice president and manager of private banking and vice president of the national banking division. He serves on a number of business and charitable boards, including the Columbus College of Art and Design, Experience Columbus, Franklin County Convention Authority, Ohio Bankers League, Columbus Chamber of Commerce and the Wexner Center Foundation. Kunk is a graduate of The Ohio State University and the Graduate School of Banking at the University of Wisconsin-Madison.

State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company and is proud to be a Trusted Choice® company partner and one of Forbes’ 50 Most Trustworthy Financial Companies in America. STFC stock is traded on the NASDAQ Global Select Market, which is a segment of the NASDAQ Global Market with the highest initial listing standards of any exchange in the world.

The insurance subsidiaries of State Auto Financial Corporation are part of the State Auto Group. The State Auto Group markets its insurance products throughout the United States, through independent insurance agencies, which include retail agencies and wholesale brokers. The State Auto Group is rated A- (Excellent) by the A.M. Best Company and includes State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, Milbank, Meridian Security, Patrons Mutual, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. Additional information on State Auto Financial Corporation and the State Auto Insurance Companies can be found online at http://www.StateAuto.com/STFC.

© Business Wire 2015
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