Liberty Mutual Completes Acquisition of Safeco

Liberty Mutual Group completed its $6.2 billion acquisition of Safeco today, becoming the fifth-largest property and casualty insurer in the United States. Liberty Mutual was previously the sixth largest property and casualty insurer in the U.S. based on the company’s 2007 direct written premium of $20.2 billion, while Safeco had 2007 direct written premium of $5.9 billion.

Liberty Mutual recently obtained approval for the transaction from the Office of the Insurance Commissioner of the State of Washington. Liberty Mutual was represented in the regulatory proceeding by Carney Badley Spellman P.S.