Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Liberty Mutual Group has entered into a definite agreement with Safeco Corp. to acquire all of Safeco’s outstanding stock for $68.25 per share in cash. The transaction is valued at approximately $6.2 billion and is expected to close by the end of the third quarter of 2008.The transaction will make Liberty Mutual the fifth-largest property and casualty insurer in the U.S. Liberty Mutual’s 2007 direct written premiums were $20.2 billion, while Safeco had 2007 direct written premium of $5.9 billion. Liberty Mutual Agency Markets had revenues of $5.6 billion in 2007.Safeco will become part of Liberty Mutual’s Agency Markets Business Unit. Combined, the organization will have about 15,000 independent agencies. AAB Editor Laura Toops recorded an interview with Gary Gregg on the acquisition of Safeco by Libery Mutual. Listen Now or add this PodCast to your iTunes Library and take it with you for listening at your convenience. To add this PodCast to your iTunes Library, simply right click your mouse on this PodCast link and select “Copy Shortcut.”Then, open iTunes on your computer, choose “Advanced” from the menu at the top, choose “Subscribe to PodCast” and paste the URL that you just copied. For more information, visit www.libertymutualgroup.com.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.