State Auto Financial Corporation (Nasdaq:STFC) Friday reported record fourth quarter net earnings of $19,331,000. Net reported earnings were $0.49, per diluted share, versus $(0.27) for the same period last year. Net operating earnings for the quarter were $0.40 per diluted share, versus $(0.26) for the same period 2001.
STFC's fourth quarter revenue was $254,335,000, up 12.7% from $225,582,000 a year earlier. Quarterly written premium increased 10.5% over the fourth quarter 2001. The Company's GAAP combined ratio for the fourth quarter was 98.5 versus 115.8 for the fourth quarter 2001.
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