Safeco Expands Footprint with Purchase of PL Business in Eight-State Deal
Agreement Allows Each Company to Grow Their Respective Core Business
Personal Lines insurer Safeco has entered into a book transfer agreement with Columbia Insurance Group, a regional carrier in the Central and Midwest U.S., to acquire Columbia’s personal auto and umbrella lines in eight states.
This agreement allows Columbia to focus exclusively on its commercial insurance offerings, while Safeco expands its agency presence in Arkansas, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma, and South Dakota. The transfer will take effect for policy renewals beginning January 1, 2025.
Luke Bills, President of Independent Agent Distribution for Liberty Mutual’s U.S. Retail Markets stated that the agreement presents a growth opportunity for Safeco in the region and reinforces its commitment to supporting the independent agency channel.
“We pride ourselves on empowering the success of agents and the independent agency channel,” said Luke Bills, President of Independent Agent Distribution, US Retail Markets, Liberty Mutual Insurance. “This agreement is a valuable opportunity to grow business across the region and we welcome Columbia agents and customers to Safeco.”
Also commenting on the deal was Keith Maciejewski, Chief Underwriting Officer of Columbia, who noted that while the decision to exit personal lines was challenging, partnering with Safeco helps ensure a seamless transition for agents and policyholders.
“The decision to focus exclusively on commercial lines and, therefore, exit personal lines was difficult. In addition to providing our agents with significant notice, we are also pleased to partner with Safeco toward making the transition as smooth as possible,” said Keith Maciejewski, Chief Underwriting Officer, Columbia Insurance Group. “Columbia remains committed to enabling a smooth transition even as we enhance our focus on providing industry leading service for our agents and commercial policyholders.”
According to the official announcement most Columbia agents already have Safeco appointments. Agents without appointments will be able to apply during the transition period.
This is the second insurer this month to announce that they were transitioning out of the Personal Lines marketplace. Centennial insurer Main Street America also announced earlier this month that it would be exiting Personal Lines to focus its energies on the Commercial Lines marketplace.
With the addition of Columbia Insurance Group’s Personal Auto and Umbrella Lines, Safeco, will help
