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In May 2017, Liberty Mutual Insurance completed its acquisition of Bermuda-based Ironshore Inc. from Fosun International Limited for $2.93 billion. [23] In October 2019, Liberty Mutual acquired Nationale Borg, Nationale Borg Reinsurance and AmTrust Insurance Spain, which are credit and surety reinsurance subsidiaries of AmTrust Financial Services.
Safeco Insurance is an American insurance company based in Seattle. A subsidiary of Liberty Mutual , Safeco provides auto insurance , homeowners insurance , and liability insurance . The company name is an acronym for S elective A uto and F ire E nsurance Co mpany of America, or SAFECO (i.e., S.A.F.E. Co.).
It was founded in 1922 in San Antonio, Texas, by a group of 25 U.S. Army officers as a mechanism for mutual self-insurance, when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group. [5] [6]
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