Safeco Insurance Enters into an Agreement with Main Street America to Transfer Personal Lines Business

November 12, 2024

Agreement Includes Seven Lines of Business in 22 States; Allows Each Company to Grow Their Respective Core Business

Boston, MA

Safeco Insurance, a Liberty Mutual company and a leading provider of personal lines insurance solutions, has entered into a book transfer agreement with Main Street America Insurance, a well-established property and casualty carrier currently offering commercial and farm and ranch products as well as fidelity and surety bonds nationwide.

The eligible renewal book represents auto, home, renters, condo, umbrella, landlord, motorcycle, RV, and watercraft policies. The deal enables Safeco to grow its personal lines presence in 22 states as Main Street America Insurance shifts to focusing exclusively on commercial lines, a move the carrier announced in late August.

"This represents one of the largest book transfer opportunities for Safeco and our agents and reinforces our position as a leading personal lines carrier for independent agents," said Luke Bills, president of Independent Agent Distribution, US Retail Markets, Liberty Mutual Insurance. "This partnership will amplify our growth potential in several states and pave the way to expand our network of agency relationships."

"At Main Street America, our Agents First, Agents Only pledge is more than a tag line. This partnership with Safeco is a concrete example of putting those words into action to offer a thoughtful solution as we make this strategic shift to focus solely on commercial lines," said Richard Vaughn, head of sales at Main Street America. "This agreement offers another option for our agents to continue to provide high quality service and protection for their personal lines clients."

While many of Main Street America's nearly 4,000 independent agents are already appointed with Safeco, those not yet affiliated with the company are eligible to seek an appointment, further ensuring a smooth transition of eligible policies. Safeco's advanced capabilities and experience with book transfers were a strong point of consideration in the deal with both companies focused on keeping the agent and customer experience at the center of the process.

The transition will begin in the second quarter of 2025, subject to regulatory requirements in relevant jurisdictions.

About Liberty Mutual Insurance

At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.

In business since 1912, and headquartered in Boston, today we are the eighth largest global property and casualty insurer based on 2023 gross written premium. We also rank 87 on the Fortune 100 list of largest corporations in the US based on 2023 revenue. As of December 31, 2023, we had $49.4 billion in annual consolidated revenue.

We employ over 40,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.

For more information, visit www.libertymutualinsurance.com.

Contact: Liberty Mutual Insurance Public & Media Relations [email protected]

About Main Street America Insurance

Founded in 1923, Main Street America Insurance offers a wide range of commercial insurance, farm and ranch policies as well as fidelity and surety bond products throughout the United States. Our Agents First, Agents Only philosophy empowers our independent agents to do what they do best; handle complex commercial risks. Our shift to focus on commercial lines, announced in August 2024, continues our 100+ year evolution as a company and ensures continued stability and success for our independent agents and their clients. Main Street America carries an "A" (Excellent) Financial Strength Rating, with a Stable Outlook, and "a+" Issuer Credit Rating from A.M. Best. In 2018, Main Street America merged with American Family Insurance, the nation's 13th-largest property/casualty insurance group and seventh largest Farm owner's carrier, becoming the group's channel to distribute products through independent agents. Visit us at msainsurance.com and on X, LinkedIn, Instagram and YouTube.

Contact: [email protected]