Tuesday, May 20, 2008

Washington Commissioner Seeks Review Consultants

The Washington Insurance Commissioner's Office is currently seeking proposals from consultants in the areas of accounting and legal services to review the proposed sale of Safeco Insurance Companies to Liberty Mutual Holding Company Inc.

It was back in April that Liberty Mutual Group Inc. agreed to buy Safeco Corp. for $6.2 billion in cash in a move to form the nation’s fifth-largest property and casualty insurer.

The boards of Boston-based Liberty Mutual and Seattle-based Safeco both approved the deal.

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