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Michael E. LaRocco to Be Named State Auto President and CEO | Business Wire

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COLUMBUS, Ohio–(BUSINESS WIRE)–The boards of directors of State Auto Financial Corporation

(NASDAQ:STFC) and State Automobile Mutual Insurance Company (State Auto

Mutual) today announced the hiring of Michael E. LaRocco, 58, effective

April 27, 2015. His duties as president and chief executive officer will

commence on May 8, 2015. Current President, CEO and Chairman Robert P.

Restrepo Jr. will work closely with LaRocco during the transition and

remain as chairman until his retirement on Dec. 31, 2015.

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. LaRocco most recently served as

president and CEO of AssureStart, a Seattle-based technology startup

selling general liability and property insurance to small businesses

online.

“The breadth of Mike’s experience in the insurance industry is

remarkable,” said STFC lead director Paul Williams. “As a result, he

understands the dynamic nature of the insurance marketplace, while

sharing our strong commitment to the independent agency system. We’re

excited to have Mike join us to lead our renewed focus on delivering

exceptional service and value to our policyholders and shareholders.”

“Bob Restrepo has led State Auto through an important period in our

94-year history,” said State Auto Mutual lead director Jim Kunk. “During

Bob’s tenure, we’ve built important and necessary infrastructure,

expanded our geographic footprint, made key acquisitions and

strengthened our talent, all while addressing some significant

challenges. We thank Bob for his leadership and continued contributions

during the upcoming transition.”

“I’m proud and honored to have the opportunity to lead an outstanding

organization and team at State Auto, and I’m excited to be returning to

my Ohio roots,” said LaRocco. “For nearly a century, State Auto has

served its policyholders and independent agent and broker customers,

with strong relationships as the foundation. We’ll continue to honor

that tradition.”

“I’ve been privileged to serve this great company,” said Restrepo. “I’m

proud of how we’ve persevered through many changes and some difficult

years, emerging well positioned for the future. Following the board’s

well-planned change in CEO leadership, my highest priority will be to

work with Mike and the boards to help State Auto reach its full

potential.”

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.

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