GEICO will provide $2.5 billion in credits to customers. Liberty Mutual refunding $250 million to Liberty and Safeco insureds. GEICO and Liberty Mutual separately announced that they would be providing relief to their auto insurance policyholders, joining Allstate and American Family that announced similar programs earlier this week. GEICO, the second largest private passenger auto […]
Donegal Mutual Exiting Personal Lines Business in Seven States
Donegal will exit personal lines business in Alabama, Maine, Nebraska, New Hampshire, North Carolina, South Carolina and South Dakota. Enters an agreement with Safeco to transition customers. Donegal Mutual Insurance Company announced that it, along with several of its affiliated insurance companies is exiting the personal lines business in the states of Alabama, Maine, Nebraska, […]
Liberty Mutual Acquires Mapfre’s Personal Lines Business in Indiana, Kentucky, and Tennessee
MAPFRE Insurance, that announced in December it will cease operating in five states to focus on 11, is turning over its personal lines business in three of the five states it is leaving to Safeco Insurance, a unit of Liberty Mutual. MAPFRE has agreed to provide Safeco the opportunity to underwrite its personal lines policies […]
Liberty Mutual Insurance Reports Increasing Auto Premiums and Losses
Global private passenger auto net written premiums up 4.8 percent in 2016. Commercial auto up 8.8 percent. Liberty Mutual Holding Company Inc. (LHMC) and its subsidiaries reported net income of $143 million for the fourth quarter ended December 31, 2016 and $1.006 billion for the year. This represents a decrease of $268 million for the […]
Snapsheet Raises $20 Million to License Virtual Claims Processing Technology to Insurance Carriers
Liberty Mutual and USAA subsidiaries among investors in photo estimating technology provider. Snapsheet, the claims technology and services provider, announced the closing of a $20 million series C investment round, led by F-Prime Capital and IA Capital Group, with participation from Liberty Mutual Strategic Ventures, Intact Ventures Inc. and a USAA subsidiary. Snapsheet will use […]
Liberty Mutual Insurance Forms Joint Venture in China
Insurer enters into joint venture for its Chinese insurance operations with Sanpower Group Co., Ltd. Liberty Mutual Insurance and Sanpower Group Co., Ltd., one of China’s leading private enterprises, announced today they have agreed to create a joint venture from Liberty Mutual’s current Chinese property and casualty insurance operations. Sanpower will hold a 51 percent […]