Safeco enters into an agreement with Main Street America
Safeco, a Liberty Mutual company, has entered into a book transfer agreement with Main Street America Insurance, a P&C 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. This partnership will amplify our growth potential in several states and pave the way to expand our network of agency relationships.” – Luke Bills, president of Independent Agent Distribution, US Retail Markets, Liberty Mutual Insurance.
“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. This agreement offers another option for our agents to continue to provide high quality service and protection for their personal lines clients.” – Richard Vaughn, head of sales at Main Street America.
The transition will begin in the second quarter of 2025, subject to regulatory requirements in relevant jurisdictions.