Safeco Insurance and QBE North America have announced an agreement in which the Liberty Mutual-owned company will acquire the entirety of QBE’s personal independent agency policies. The agreement, effective as of August 15, 2018, will see the transition of QBE’s entire personal insurance independent agency book of business, sold via approximately 900 QBE independent agents and brokers from across 47 states to Safeco, in what the companies have said will be a “seamless transition.”
Based in Boston, Safeco is owned by Liberty Mutual
“As we sought to focus our strategy as an integrated specialist insurer, we thoughtfully chose Safeco for its ability to consistently deliver an experience of excellence to our agents and customers,” said Russ Johnston, CEO of QBE North America. “By intensifying our focus, we can leverage our applied expertise to innovate and deliver exceptional end-to-end solutions that not only meet but exceed customer expectations.”
“Safeco prides itself on providing innovative and industry-leading solutions to our agency partners. Our book transfer capabilities ensure a great experience for carriers, agents and customers alike,” said Gary Fischer, Senior Vice President of Distribution Strategy and Operations Support at Safeco Insurance. “Throughout this process, QBE’s dedication to their customers and independent agent partners has made this partnership particularly exciting to all of us as we work to provide a smooth transition.”
Safeco already has an independent insurance agency network of over 10,000 partners nationwide…
According to the terms of the transaction, Safeco will acquire all of QBE’s personal insurance independent agency book of business, consisting of two primary lines of business: personal auto and personal property insurance.
For Safeco, this deal will further strengthen and grow its presence within the U.S. personal insurance marketplace, which already boasts a network of more than 10,000 independent insurance agency partners. It also will provide a plethora of new opportunities for its distribution network which includes personal, auto, homeowners and specialty products.
