Safeco said today it will increase its presence in California–an announcement that comes 12 days after Allstate revealed it would stop selling homeowners insurance in the state.
"California remains one of our key markets. Not only do we remain committed to our existing customers throughout the state but, with our more than 1,700 independent agents in California, we are determined to expand our presence there," said Mike Hughes, insurance operations executive vice president for Seattle-based Safeco.
The company said it will be particularly active in the area of homeowners insurance and noted that earlier this year it had reduced its homeowners' insurance rates by an average of 20 percent in California.
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