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About Safeco Corporation

Liberty Mutual Holding defends our freedom to buy car insurance. As the parent company of Liberty Mutual Group and its operating subsidiaries, Liberty Mutual is one of the top property/casualty insurers in the US and among the top 10 providers of automobile insurance. The company also offers homeowners' insurance, workers compensation, general liability, group disability, fire and surety, and commercial lines for small to large companies. Liberty Mutual operates through three business divisions: Global Consumer Markets, Commercial Insurance, and Global Specialty. It distributes its products through a diversified blend of independent and exclusive agents, brokers, and direct sales.


Liberty Mutual's three business divisions are Global Consumer Markets (accounting for more than 55% of net written premiums), Commercial Insurance (30%), and Global Specialty (about 15%).

The company's Global Consumer Markets division is composed of two market segments -- US Consumer Markets (domestic auto, home, and other property/casualty coverage)and Global Consumer Markets East | West (property/casualty, health, and life insurance for individuals and businesses).

The Commercial Insurance segment provides a wide range of property/casualty and group benefits products and services for businesses through independent agents, brokers, and benefit consultants across the US.

The Global Specialty segment includes Liberty International Underwriters (LIU), Liberty Mutual Surety (LMS), and Liberty Mutual Reinsurance (LMR).

Private passenger automobile insurance is the company's single largest line of business, bringing in more than 35% of total net written premiums.

Geographic Reach

Liberty Mutual has more than 800 offices in 30 countries around the globe.

International operations are divided into two regions, East and West. Nations served in the East region include Thailand, Singapore, Hong Kong, Vietnam, Malaysia, India, China, Russia, and Turkey. The West region includes Brazil, Colombia, Chile, Ecuador, Northern Ireland, Portugal, and Spain.

Sales and Marketing

Liberty Mutual distributes its products through 2,100 licensed sales representatives and more than 600 licensed telesales counselors, through direct response centers, third-party producers, and online. Its commercial insurance lines are sold through independent agents, brokers, and benefit consultants throughout the US.

Financial Performance

After years of rising revenues, Liberty Mutual saw a modest decline in 2015 with revenues totaling $37.6 billion. In 2016 revenue rose 2% to $38.3 billion as net written premiums grew 3% to $35.7 billion. This growth occurred despite challenges such as higher-than-normal losses and continued depressed interest rates.

Net income, which had fallen in 2015 in light of divested operations and an increase in operating costs, rebounded the following year when it nearly doubled to $1.0 billion. Cash flow from operations dropped 15% to $3 billion. on realized losses and the absence of net cash provided by discontinued operations.


Liberty Mutual increases its geographic foothold by opening new branches organically, establishing joint ventures, and acquiring local complementary businesses. In 2015, the company opened its first campus outside of the Northeast (in Plano, Texas).

The company's Liberty International Underwriters (LIU) business offers specialty commercial insurance and reinsurance and operates from about 50 offices worldwide. LIU writes a variety of products in such areas as aviation, cyber liability, construction, energy, marine, and crisis management, among others. Its Lloyd's Syndicate 4472 also provides multi-line insurance and reinsurance worldwide.

Liberty Mutual's international operations have grown in importance as part of a planned long-term expansion outside of the US. This division operates in about 15 countries and provides personal and commercial insurance to local markets. Recent acquisitions have boosted the company's presence in Northern Ireland and Colombia. Liberty Mutual also uses various means to expand in emerging markets such as India and China. In 2016 the company partnered with Sanpower Group to form a joint venture with its existing operations in that China; it also upped its ownership in its joint venture operation in India. However, in 2015 it exited the markets of Poland and Venezuela.

The company is utilizing technology to improve its offerings; during 2016 it deployed new offerings such as home telematics to leverage data for enhanced coverage. Its Coverage Compass online tool helps customers access their policies and explore additional coverage options. Expanding its specialty business with the 2017 purchase of Ironshore (which it will combine with Liberty International Underwriters), Liberty Mutual now boasts a broader set of commercial specialty products and services.

Mergers and Acquisitions

Liberty Mutual in 2015 bought Northern Ireland-based Hughes Insurance, an independent insurance broker offering auto, home, travel, and commercial lines.

In 2016 the company acquired Compañia de Seguros Generales Penta Security, the fourth-largest property/casualty insurer in Chile. Liberty Mutual is now Chile's largest general insurer.

The following year, Liberty Mutual acquired specialty insurer Ironshore for $3 billion. That purchase boosted the company's specialty insurance operations by some $2.2 billion. Ironshore insures companies such as aviation firms and cruise ships and covers risks including kidnapping, war, and terrorism.

Safeco Corporation

Seattle, WA 98185-9083
Phone: 1 (206) 545-5000


Employer Type: Privately Owned
Senior Vice President, Agency Distribution and Field Management: Gary Fischer
Avp Product Systems: Elisabeth Power
Manager, Safeco Rating Platforms, PL Distribution: Kaitlyn Windsor
Employees (This Location): 1,400
Employees (All Locations): 7,208

Major Office Locations

Seattle, WA