On Wednesday, Sept. 10, the Washington Office of the Insurance Commissioner will hold an adjudicative proceeding to determine whether to approve the purchase of the Safeco Group by the Liberty Mutual Group. Liberty Mutual and Safeco announced in April that they had agreed to the $6.2 billion sale, pending approval. If the sale is approved, Safeco would change from a publicly traded stock corporation in Washington state to a privately held company of Liberty Mutual in Delaware.
The Safeco Group, established in Washington state in the 1950s, includes Safeco Corporation, Safeco Insurance Company of America, First National Insurance Company of America, General Insurance Company of America and Safeco Surplus Lines Insurance Company and their many subsidiaries.
The 10 a.m. hearing will be held in the agency’s Tumwater office at 5000 Capitol Blvd. Interested parties also may participate by phone by calling 360-407-3780 and entering 938094#.
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