State Automobile Mutual Insurance Company, commonly shortened to State Auto Mutual or State Auto, is an American
insurance company
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
based in
Columbus, Ohio
Columbus (, ) is the List of capitals in the United States, capital and List of cities in Ohio, most populous city of the U.S. state of Ohio. With a 2020 United States census, 2020 census population of 905,748, it is the List of United States ...
. It was incorporated in 1921 as the first
casualty insurance
Casualty insurance is a defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance.
Casualty insurance is mainly liability coverage of an individual or organization for n ...
company to be headquartered in Columbus.
In 2022, it was acquired by
Liberty Mutual
Liberty Mutual Insurance Company is an American diversified global insurer and the sixth-largest Property insurance, property and Casualty insurance, casualty insurer in the world. It ranks 87th on the Fortune 100, ''Fortune'' 100 list of larges ...
for approximately $1 billion.
History
On September 16, 1921, Robert "Bob" Pein founded the State Automobile Mutual Insurance Company with $30,000 of borrowed funds and three employees at 257 East Broad Street. Pein believed that the American
automobile insurance
Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury ...
market was too dominated by east-coast companies who set rates too high, in addition to employing contractors to serve as
claims adjuster
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
s rather than employing them full-time. In 1929, the corporation moved to its current site at 518 East Broad Street.
Christmas Corner
The first winter after the completion of the current State Auto building, Pein created an elaborate Christmas display so as to boost the spirits of Columbus residents during the
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and ...
, what he would later call a "Christmas Card to the community".
In 1962, a life-size
nativity scene
In the Christian tradition, a nativity scene (also known as a manger scene, crib, crèche ( or ), or in Italian ''presepio'' or ''presepe'', or Bethlehem) is the special exhibition, particularly during the Christmastide, Christmas season, of ar ...
was added to the display, being featured alongside performances from local choirs. The exhibit continued each year, with a 3D camera designed for insurance inspections adding a virtual aspect to the Christmas Corner during the
COVID-19 pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
.
The nativity scene was donated to the
Museum of Catholic Art and History in August 2023, and its public wintertime display will be moved a few blocks west on
Broad Street to the lawn of
St. Joseph Cathedral.
Present
Since 1921, State Auto has expanded into serving the property insurance market in addition to the casualty insurance market it was founded to serve. Its stock, traded under the ticker STFC, is on the
NASDAQ Global Select Market
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
. Kim Garland was appointed its president following its acquisition by Liberty Mutual in 2022.
See also
*
List of United States insurance companies
This is a list of insurance companies based in the United States. These are companies with a strong national or regional presence, having insurance as their primary business.
History
In 1752, Benjamin Franklin founded the first American insu ...
References
External links
* {{official website, https://www.stateauto.com/
American companies established in 1921
Companies based in the Columbus, Ohio metropolitan area
Mutual insurance companies of the United States