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Liberty Mutual Insurance has announced plans to market and sell all personal lines products under the Liberty Mutual brand by 2026.
This move will result in the retirement of the Safeco Insurance brand, which has been part of the company’s independent agent channel since its acquisition in 2008.
Safeco has grown to generate over $13 billion in annual premiums, offering auto, property, and specialty products across 48 US states through a network of 22,000 independent agencies.
Safeco customers can retain their existing agent relationships, and the only change to their policies will be in name, according to the release.
Liberty Mutual offers products directly to consumers online and through licensed sales representatives at call centers while maintaining separate product offerings across direct and independent agent channels.
Tyler Asher, Chief Distribution and Marketing Officer of Liberty Mutual US Retail Markets, said, “This transition will allow us to fully leverage the Liberty Mutual brand value for all of our customers, agents, and partners across all distribution channels. Importantly, this will significantly simplify our business, enable us to focus our considerable marketing power behind a single brand, and allow us to scale our technology to deliver unified but differentiated products and experiences across channels.”
Luke Bills, President of Liberty Mutual US Retail Markets’ Independent Agent Distribution, stated, “The Safeco legacy is one of strength, partnership, and an unwavering commitment to independent agents. We will carry that legacy forward and bring even greater value to our agents with this brand change.”
Liberty Mutual Holding Company and its subsidiaries (collectively LHMC) reported attributable net income of $1.2 billion for the fourth quarter of 2024, a 89.4% increase from $654 million in the same quarter of the previous year.
The company posted attributable net income of $4.3 billion for the full year 2024, up from $213 million in 2023.
Recently, Liberty Mutual Insurance agreed to sell its operations in Thailand and Vietnam—LMG Insurance and Liberty Insurance, respectively—to Chubb.
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