Safeco Purchases Main Street America’s Personal Lines

Safeco is going to take over Main Street America’s personal lines business. It is the second time that the Liberty Mutual subsidiary has stepped in to rescue a personal lines book of business from a struggling insurer.

The renewal book of business for Main Street America includes auto, home, renters and condo insurance as well as umbrella, landlord, motorcycle, RV, and watercraft policies.

Luke Bills is Liberty Mutual’s president of independent agent distribution for Liberty Mutual. He said once things kick into gear, it will put Safeco into 22 states.

“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,” Bills said. “This partnership will amplify our growth potential in several states and pave the way to expand our network of agency relationships.”

Main Street America said it is now going to focus more on commercial lines for small businesses. The company also writes farm and ranch business, fidelity and surety bond products.

In September, Safeco entered into a book transfer agreement with Columbia Insurance Group and took over its personal auto and umbrella lines in eight states.

Source link: Insurance Journal — https://bit.ly/4eBiPCX