Donegal Mutual Insurance Company Enters into Agreement with Safeco Insurance for Transfer of Personal Lines Business in Seven...
September 10 2018 - 2:00PM
Donegal Mutual Insurance Company today announced that it, along
with several of its affiliated insurance companies (collectively,
“Donegal”), is exiting the personal lines business in the states of
Alabama, Maine, Nebraska, New Hampshire, North Carolina, South
Carolina and South Dakota. Donegal has entered into an agreement
with Safeco Insurance, a Liberty Mutual Company, (“Safeco”) to
provide Donegal’s independent agents in those states a compelling
option for transitioning their Donegal policyholders to Safeco.
Donegal wrote approximately $25.0 million of personal lines
premiums in the seven states in 2017, representing approximately
2.6% of its overall premium writings.
“While we are actively seeking growth in our commercial lines of
business throughout our operating regions, Donegal also remains
solidly committed to maintaining and expanding our personal lines
of business in markets where we have sufficient scale and spread of
risk to achieve profitability. This transfer represents an
opportunity for us to exit seven states where we have been unable
to achieve that objective and to enable us to focus our efforts on
our personal lines operations in other states,” said Kevin G.
Burke, President and Chief Executive Officer of Donegal Mutual
Insurance Company and Donegal Group Inc. “We are pleased to
partner with Safeco to provide an alternative for our independent
agents and personal lines customers in these seven states, where we
plan to continue growing our commercial lines premium
writings.”
“Safeco is committed to the success of independent agents, and
we are excited to partner with Donegal to give their independent
agents an opportunity to build their partnership with Safeco,” said
Gary Fischer, Senior Vice President of Distribution Strategy and
Operations Support at Safeco Insurance. “Safeco’s innovative
approach to book transfer leverages our leading products and
services to help independent agents grow their business while
providing their customers with a seamless experience.”
About Donegal Insurance Group:
Donegal Mutual Insurance Company, in business since 1889, and
the insurance subsidiaries of Donegal Group Inc. (NASDAQ:DGICA)
(NASDAQ:DGICB) conduct business together as the Donegal Insurance
Group. The Donegal Insurance Group offers property and
casualty insurance in 22 Mid-Atlantic, Midwestern, New England and
Southern states. Donegal Mutual Insurance Company and its
insurance subsidiaries also offer commercial property and casualty
lines of insurance in four Southwestern states. The Donegal
Insurance Group has an A.M. Best rating of A (Excellent).
For more information about the Donegal Insurance Group, go to
www.donegalgroup.com.
About Safeco Insurance:
In business since 1923 and based in Boston, Mass., Safeco
Insurance sells personal automobile, homeowners and specialty
products through a network of more than 10,000 independent
insurance agencies throughout the United States. Safeco is a
Liberty Mutual Insurance company.
In business since 1912, and headquartered in Boston, Mass.,
Liberty Mutual Insurance is a leading global insurer with
operations in 30 countries around the world. Liberty Mutual is the
third largest property and casualty insurer in the U.S. based on
2017 direct written premium data as reported by the National
Association of Insurance Commissioners. The Company also ranks 68th
on the Fortune 100 list of largest corporations in the U.S. based
on 2017 revenue. As of December 31, 2017, it had $39.4
billion in annual consolidated revenue.
For more information about Safeco Insurance, go to
www.Safeco.com.
Jeffrey D. MillerExecutive Vice President & Chief Financial
OfficerPhone: (717)
426-1931E-mail: jeffmiller@donegalgroup.com
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