|This company is or has gone private. Information about the company may be limited and outdated.|
Safeco was acquired by Liberty Mutual, a privately-held company, for $68.25 / share on September 22nd, 2008.
Based in Seattle, WA, Safeco Corporation (SAF) was, before its acquisition, among the twenty largest property/casualty insurer in the United States, writing net premiums of $5.6 billion in 2006. The company sells its products through independent agents and financial advisors. Geographically, California, Washington, and Texas are the largest premium generators. On August 2, 2004, the company sold its life insurance and annuity business to an investor group led by White Mountains Insurance Group, Ltd., and Berkshire Hathaway Inc. A.M. Best imparted an A' rating with a positive outlook upon the company.
Safeco Personal Insurance (SPI) 65.8% of 2006 net written premiums -- writes personal, auto, and homeowners insurance.
Safeco Business Insurance (SBI) 27.1% of 2006 net written premiums -- writes commercial multi-peril, and business owners' policies. Three-quarters of its policies are to small businesses with premiums of less than $100,000 25% are large commercial policies written through SAFECO agents.
Surety 5.8% of 2006 net written premiums offers bonds that provide payment and performance guarantee primarily for construction business and corporate.