Safeco, while growing in some areas, is trailing competitors, ananalyst said after the insurer reported first-quarter net incomedecreased 19 percent.

The Seattle-based carrier reported first-quarter profits of$182.5 million compared with $208 million for the same period in2006.

Chief Executive Officer Paula Rosput Reynolds said the resultsprovide “visibility and validity to our transformationefforts.”

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.