Written by On Wednesday Liberty Mutual agreed to purchase Safeco Corp (Safeco Insurance) for a little over $6 billion.
This move will make Liberty Mutual the 5th largest P&C insurer in the United States. The combination of Safeco and Liberty Mutual units will put the total amount of agencies at around 15,000, giving Liberty Mutual much needed coverage on the West coast where Safeco is popular.
liberty mutual has no presence on the west coast that’s for sure. Safeco is huge here in the Northwest, and in California.
Safeco is a great company and this doesn’t sound like it’s going to be good for Safeco customers. There’s probably a reason no one is going with Libery Mutual out here and using Safeco instead.
SAFECO WILL PROBABLY REMAIN SAFECO WITH ITS LOOK AND FEEL. LIBERTY MUTUAL WOULD BE DUMB TO BREAK UP THAT BRAND.
This is a great buy for Liberty Mutual they are an awesome company.
keep in mind this deal still has to be approved. it could turn out that regulators don’t allow it.
I love safeco….but now I’m not sure if I’m going to like it if they’re under new ownership.