UPDATE 1-State Auto Financial posts surprise Q2 loss

* Q2 oper loss $0.12/shr vs profit est $0.30

* Revenue rose 3 pct to $316.9 mln

* Combined ratio at 110.6 vs 115.9 last year

July 28 (Reuters) - State Auto Financial Corp (STFC.O), a regional property and casualty insurance holding company, posted a surprise second-quarter loss as higher catastrophe losses offset premium growth.

"Our business insurance underwriting results were adversely affected by a continuation of large fire losses from the first quarter and several unusually large liability losses from prior accident years," Chief Executive Bob Restrepo said in a statement.

The Columbus, Ohio-based company reported a quarterly net loss of $3.2 million, or 8 cents a share, compared with a loss of $3.3 million, or 8 cents a share, a year ago. Net loss from operations was 12 cents a share.

Revenue rose 3 percent to $316.9 million.

Analysts on average had expected earnings of 30 cents a share, excluding special items, on revenue of $307.4 million, according to Reuters Estimates.

State Auto Financial's net combined ratio for the quarter was 110.6, compared with 115.9 a year ago. A lower ratio indicates a more profitable business.

Shares of the company closed at $18.09 Monday on Nasdaq. (Reporting by Supantha Mukherjee in Bangalore; Editing by Gopakumar Warrier)