"State Auto Group's agency network, product expertise and geographic reach made it a great complement to Liberty Mutual's domestic personal lines and small commercial business," Richard Angevine, senior public relations consultant for Liberty Mutual, tells PropertyCasualty360.com. "While we've made great progress rapidly accelerating our organic growth, the acquisition helps us gain scale quickly. In fact, it made us the second-largest carrier serving the independent agent channel, up from the third." (Credit: alphaspirit/Stock.adobe.com)
Liberty Mutual Holding Co. has finalized its acquisition of State Auto Financial Corp., according to the acquiring firm, which purchased all of State Auto's publicly held shares for approximately $1 billion in an all-cash deal.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
