Ohio Casualty Corporation Announces Share Repurchase Program
September 29 2006 - 9:00AM
Business Wire
Ohio Casualty Corporation (NASDAQ:OCAS) today announced that its
Board of Directors authorized the repurchase of up to $100 million
of the Corporation's common stock, effective immediately. Purchases
may be made in the open market or in privately negotiated
transactions from time to time and will be funded from available
working capital. "We believe this is a positive action for our
shareholders," notes Corporation President and Chief Executive
Officer Dan R. Carmichael, CPCU. "It reflects the Corporation's
strong capital position, significant financial flexibility and
outlook for continued positive operating performance." Corporate
Profile Ohio Casualty Corporation is the holding company of The
Ohio Casualty Insurance Company, which is one of six
property-casualty insurance companies that make up Ohio Casualty
Group, collectively referred to as Consolidated Corporation. The
Ohio Casualty Insurance Company was founded in 1919 and is licensed
in 49 states. Ohio Casualty Group is ranked 50th among U.S.
property/casualty insurance groups based on net premiums written
(Best�s Review, July 2006). The Group�s member companies write
auto, home and business insurance. Ohio Casualty Corporation trades
on the NASDAQ Stock Market under the symbol OCAS and had assets of
approximately $5.7 billion as of June 30, 2006. Ohio Casualty
Corporation (NASDAQ:OCAS) today announced that its Board of
Directors authorized the repurchase of up to $100 million of the
Corporation's common stock, effective immediately. Purchases may be
made in the open market or in privately negotiated transactions
from time to time and will be funded from available working
capital. "We believe this is a positive action for our
shareholders," notes Corporation President and Chief Executive
Officer Dan R. Carmichael, CPCU. "It reflects the Corporation's
strong capital position, significant financial flexibility and
outlook for continued positive operating performance." Corporate
Profile Ohio Casualty Corporation is the holding company of The
Ohio Casualty Insurance Company, which is one of six
property-casualty insurance companies that make up Ohio Casualty
Group, collectively referred to as Consolidated Corporation. The
Ohio Casualty Insurance Company was founded in 1919 and is licensed
in 49 states. Ohio Casualty Group is ranked 50th among U.S.
property/casualty insurance groups based on net premiums written
(Best's Review, July 2006). The Group's member companies write
auto, home and business insurance. Ohio Casualty Corporation trades
on the NASDAQ Stock Market under the symbol OCAS and had assets of
approximately $5.7 billion as of June 30, 2006.
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