Safeco Insurance

Safeco Insurance is an American insurance company based in Seattle, Washington, founded in 1923 by Hawthorne Kingsbury Dent as the General Insurance Company of America. In 1953, The General formed a new auto-focused subsidiary built to cater to independent agents, SAFECO, which stood for Selective Auto and Fire Insurance Company of America (with an extra “E” added because “SAFCO” didn’t sound quite right). Over the decades, the company expanded across the country, offering personal lines products such as auto, homeowners, renters, motorcycle, boat, and umbrella insurance, all distributed exclusively through a network of independent agents.

In 2008, Liberty Mutual Group announced its agreement to acquire Safeco Corporation for approximately $6.2 billion, representing a 51% premium over Safeco’s closing stock price the previous day. Since the acquisition, Safeco grew to more than $13 billion in written premium, offering personal auto, property, and specialty products in 48 states through a network of more than 22,000 independent agencies. However, a notable change is on the horizon: the Safeco name is set to be retired in April 2026, with the brand transitioning fully under the Liberty Mutual name, though existing customers will keep their agent relationships and their policies will not be impacted beyond the name change.