Who is State Auto Insurance owned by?

State Auto Financial said Monday that it is being bought by Boston-based Liberty Mutual in a $1 billion deal being pitched as a way to help Liberty expand its offerings for small commercial insurance and consumers.

Who bought state auto insurance company?

State Auto Financial shareholders have signed off on the proposed acquisition of the insurer by Liberty Mutual. State Auto, based in Columbus, said Thursday that 99.5% of the shares voted, including abstentions, were in favor of the $1 billion deal. The deal, which is expected to close next year, was announced in July.

Is State Auto owned by Liberty Mutual?

Liberty Mutual Insurance Bolsters Independent Agent Network With Agreement to Acquire State Auto…

Is State Auto Part of Safeco?

In connection with the merger of State Auto Financial, State Auto Mutual has entered into a voting agreement with Liberty Mutual under which it has agreed to vote its 58.8% interest in State Auto Financial in favor of the merger. Liberty Mutual acquired Safeco in 2008 and specialty insurer Ironshore in 2017.

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Is State Auto the same as auto owners?

Today, Auto-Owners Insurance writes policies in 26 states and has more than 4,700 employees. … State Auto Mutual Insurance Company is policyholder owned and it controls State Auto Financial. Below is a list of average rates, rankings, products, and discounts for the two companies.

Did Liberty Buy State Auto?

Under the terms of the agreement, State Auto mutual members will become mutual members of Liberty Mutual and Liberty Mutual will acquire all of the publicly held shares of common stock of State Auto Financial for $52 per share in cash.

Who owns Safeco?

In September 2008, Safeco became part of Liberty Mutual Insurance. The financial strength of our parent company, combined with a national network of local independent agents, has enabled Safeco to focus exclusively on personal insurance.

Who is the CEO of State Auto?

Mike LaRocco

Mike was named State Auto’s President and CEO in May 2015. He has extensive experience in the property and casualty insurance industry, including roles at Progressive, GEICO, Safeco and Fireman’s Fund.

Is State Auto publicly traded?

With a commitment to responsible cost-based pricing, conservative investments and sound underwriting practices, STFC has maintained a healthy financial record since becoming a public company in 1991. … State Auto Financial Corporation is traded on the Nasdaq Global Select Market System under the symbol STFC.

Who owns Liberty Mutual?

Safeco Insurance is a proud part of Liberty Mutual Insurance, a Fortune 100 company2 and the sixth-largest personal lines insurer in the country3.

What states does Safeco cover?

Safeco National Insurance Company (NAIC #24759) is domiciled in New Hampshire and licensed in Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Dakota, Ohio, …

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What states does Liberty Mutual cover?

Where Is Coverage Available From Liberty Mutual Homeowners Insurance?

  • Alabama.
  • Alaska.
  • Arizona.
  • Arkansas.
  • California.
  • Colorado.
  • Connecticut.
  • Delaware.

How long has State Auto Insurance been in business?

STATE AUTO® Insurance Companies nearly 100-year history of business operations, has developed a well-respected heritage and built a strong foundation.

Who are the owners of insurance companies?

Insurance companies, including life insurance companies, are generally owned in one of two main ways, either by external investors – stockholders – or by their policyholders, said Gene McGovern of McGovern Financial Advisors in Westfield.

What company owns auto-owners?

Established in 1898 and headquartered in Monterey, California, Capital Insurance Group joined Auto-Owners Insurance Group in 2019. This group of insurers writes property and casualty products in Arizona, California, Nevada, Oregon, and Washington.