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      State Auto Financial Corporation (STFC) stock surged in the current trading session by triple percentage digits; here’s why - Stocks Telegraph

      By ST Staff

      Published on

      July 12, 2021

      4:34 PM UTC

      State Auto Financial Corporation (STFC) stock surged in the current trading session by triple percentage digits; here’s why - Stocks Telegraph

      In the current trading session, we found out that State Auto Financial Corporation (STFC) shares surged up by a whopping triple-digit percentage of 190.09% to trade at the price of $50.07 at the last check. This surge is mostly correlated with the announcement of STFC’s acquisition by Liberty Mutual Insurabce, STFC stock previously closed the session at $17.26. The STFC stock volume traded 0.92 million shares, while the average daily volume of trade for the past 50 days has been 55805.0 shares. STFC stock shares have risen in the past year up to date by 5.95% and in the past week, the shares moved down by -2.92%. In the past three and six months, the STFC stock shed -13.48%, and -5.27% respectively. Furthermore, State Auto Financial Corporation is currently valued in the market at $745.46 million and has outstanding shares of 43.90 million.

      All you need to know about State Auto Financial Corp.

      State Auto Financial Corporation is an Insurance company that provides insurance products specifically for Property as well as Casualty. State Automobile Mutual Insurance Company Inc. is the parent company of which STFC stock is a subsidiary of. The company has partnerships and many subsidiaries through which it provides the services of its insurance products to various clients. STFC stock has set up its operation basis and targeted the market of the United States. The product offering of its insurance services includes the segment of Personal Insurance, Investment Operations, and Commercial Insurance.

      Out of these three segments of insurance products, the personal insurance refers primarily to the provision of automobile, homeowners and other products which are intended for personal use. The segment that focuses on the automobile, Small-to-Medium sized commercial exposures in the market for commercial purposes is known as the Commercial segment. These also include farm land and ranch insurances. The investment operations revolve around the investment management services which are given to companies that want to affiliate themselves with insurance firms. The marketing channel of the company for all its three segments of insurance products includes independent agencies which include retail agencies and wholesale brokers. The origin of the company is from 1950 and the headquarter of the company is situated in Columbus Ohio.

      State Auto Financial Corporation is being acquired by Liberty Mutual Insurance – the sixth-largest property and casualty insurer

      Liberty Mutual Insurance is the sixth-largest global property and casualty insurer which includes a wide and diverse range of insurance related to automobile, homeowners, specialty lines, worker’s compensation, commercial automobile, surety, commercial multiple-peril, and commercial property.

      Liberty Mutual Insurance announced on 12th July 2021 that it has signed a definitive agreement with State Auto Financial Corp. in which the latter company will be acquired by Liberty Mutual. The State Auto Mutual members will become part of Liberty Mutual and the shares that are publicly held for the STFC stock will all be acquired by Liberty Mutual for $52 per share. This deal will be carried out in all-cash transactions.

      It is obvious that Liberty Mutual being the 6th largest insurer wants to expand and grow further to scale up its business and market share in the personal lines and small commercial insurance space. The company has a partnership and deal with more than 10,000 independent agencies countrywide for providing its insurance products.

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