![]() ![]() There was speculation in 2016 that SafeAuto was for sale. SafeAuto founders Ari Deshe and Jon Diamond didn't have the next generation of family members to take over the company, Davies said. ![]() The property is valued at $23.5 million, according to the Franklin County Auditor's website.Īllstate approached SafeAuto about three months ago, said Davies, who came to SafeAuto nine years ago from Allstate, where he had been a senior vice president. The deal also includes SafeAuto's headquarters at Easton at 4 Easton Oval. SafeAuto has about 600 employees, with about half of them in central Ohio, he said.Ībout a third of those worked from home before the pandemic, and since then, most workers have been working remotely. The sale isn't expected to change the company's local employment, Davies said. "As we looked at it, it just makes sense." "You couldn’t find a better home to take on the business,” Davies said. National General is expected to continue to use the SafeAuto name, Davies said. It also builds on National General’s track record of acquiring and integrating companies to accelerate growth. The deal allows National General to expand its capabilities when it comes to offering nonstandard insurance coverage. SafeAuto sells insurance in 28 states with a model built largely around coverage at state minimum levels. "I am excited to see SafeAuto join the Allstate family and National General," said Ron Davies, SafeAuto's CEO. "Allstate is an iconic brand with superb capabilities and people that will enable SafeAuto to more rapidly scale and serve even more consumers." The insurer, best known for offering state minimum auto insurance coverage, is being sold to Northfield Township, Illinois-based Allstate in a deal valued at $300 million, the companies announced Monday night.Īllstate, which has a slogan of "You're in Good Hands with Allstate," will put SafeAuto under its National General subsidiary that specializes in selling nonstandard auto insurance directly to consumers. His contract was extended last July and now runs through the end of 2022.SafeAuto is turning itself over to the "good hands" people. ![]() LaRocco took over president and CEO of State Auto in May 2015 and has been credited with turning around the super regional carrier that a few years earlier was dealing with rising expenses, shrinking profits and declining business. “We’ve become a digital provider of auto, home and business insurance while remaining fully committed to the independent agency system, as we’ve been since our founding 100 years ago.” “The opportunity to join the Liberty Mutual organization is a direct result of the incredible work of the State Auto team, beginning with the transformation of our business and culture that began in 2015,” said State Auto President and CEO Mike LaRocco. “State Auto Group’s capabilities and product expertise are an ideal complement to Liberty Mutual’s domestic personal lines and small commercial business, and we welcome 2,000 talented associates to our family,” said Liberty Mutual Chairman and Chief Executive Officer David Long. Liberty Mutual offers additional distribution to consumers for its Liberty Mutual-branded products through exclusive agents in local sales offices countrywide, licensed telesales counselors and online. This will position it to become the second largest carrier in the independent agency distribution channel. Through the deal, Liberty Mutual will add $2.3 billion in premium and State Auto’s network of approximately 3,400 independent agencies across 33 states. Liberty Mutual today distributes Safeco Insurance personal auto, homeowners and specialty products, and Liberty Mutual small business insurance through more than 10,000 independent agencies countrywide. It is the sixth largest auto and home insurer in the U.S. The acquisition will expand Liberty Mutual’s already strong position in personal lines and small commercial insurance. ![]()
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