myfakename
Super Genius
- 163
Hello, Agency Partner:
Since the day of our founding 100 years ago, State Auto has been committed to independent agents, because we believe you deliver the greatest value and service to customers. Over the past six years, we’ve transformed our company to become an even better partner for you and help secure the future of the independent agency system. Today, we’re taking a major step that will solidify that commitment.
We’ve announced that State Auto has entered into a definitive agreement to be acquired by Liberty Mutual Insurance. Bringing together State Auto, Liberty Mutual and Safeco makes a clear and bold statement: The independent agency system will win. As what we anticipate will become the #2 carrier in the independent agent space, we’ll have the scale required to further invest in the products, technology and programs that will help you grow and win and provide even better service to our mutual customers.
Liberty Mutual is the sixth-largest global property and casualty insurer and ranks 71 on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue. As of the end of 2020, Liberty had $43.8 billion in annual consolidated revenue. With more than 45,000 associates in 29 countries and economies around the world, Liberty offers a wide range of insurance products and services, including personal auto, homeowners, specialty lines, reinsurance, commercial multi-peril, workers’ comp, commercial auto, general liability, surety and commercial property.
Our companies are a great fit. We’re both focused on innovation and have made major investments in technology. We share a strong focus on diversity, equity and inclusion; environmental, social and corporate governance (ESG); and giving back – all of which are part of our core. During our conversations with Liberty Mutual, it became clear that moving from being independent to part of a larger organization would benefit independent agents, associates, policyholders and shareholders.
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. Liberty Mutual believes the State Auto team of more than 2,000 associates is one of the most valuable aspects of this transaction. Being part of Liberty Mutual not only gives us the opportunity to profitably grow and deliver even greater scale, it gives our associates incredible opportunities for personal and professional growth.
A number of regulatory approvals and other conditions have to be met, but we expect to close on the transaction in early 2022. Until then, State Auto and Liberty Mutual will continue to operate as two separate businesses, and nothing changes for now in terms of your relationship with us. There are a lot of questions we can’t answer yet, as we’re just starting the work of bringing our companies together. You’ll be hearing more from us throughout this transition. In the meantime, your account executive, territory manager or agency CARE consultant remain available to help.
We’re as committed to your success and the success of the independent agency system as ever, and I know Liberty Mutual shares that commitment. Thank you for joining us on this journey, and for being a valued State Auto partner.
Best,
Since the day of our founding 100 years ago, State Auto has been committed to independent agents, because we believe you deliver the greatest value and service to customers. Over the past six years, we’ve transformed our company to become an even better partner for you and help secure the future of the independent agency system. Today, we’re taking a major step that will solidify that commitment.
We’ve announced that State Auto has entered into a definitive agreement to be acquired by Liberty Mutual Insurance. Bringing together State Auto, Liberty Mutual and Safeco makes a clear and bold statement: The independent agency system will win. As what we anticipate will become the #2 carrier in the independent agent space, we’ll have the scale required to further invest in the products, technology and programs that will help you grow and win and provide even better service to our mutual customers.
Liberty Mutual is the sixth-largest global property and casualty insurer and ranks 71 on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue. As of the end of 2020, Liberty had $43.8 billion in annual consolidated revenue. With more than 45,000 associates in 29 countries and economies around the world, Liberty offers a wide range of insurance products and services, including personal auto, homeowners, specialty lines, reinsurance, commercial multi-peril, workers’ comp, commercial auto, general liability, surety and commercial property.
Our companies are a great fit. We’re both focused on innovation and have made major investments in technology. We share a strong focus on diversity, equity and inclusion; environmental, social and corporate governance (ESG); and giving back – all of which are part of our core. During our conversations with Liberty Mutual, it became clear that moving from being independent to part of a larger organization would benefit independent agents, associates, policyholders and shareholders.
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. Liberty Mutual believes the State Auto team of more than 2,000 associates is one of the most valuable aspects of this transaction. Being part of Liberty Mutual not only gives us the opportunity to profitably grow and deliver even greater scale, it gives our associates incredible opportunities for personal and professional growth.
A number of regulatory approvals and other conditions have to be met, but we expect to close on the transaction in early 2022. Until then, State Auto and Liberty Mutual will continue to operate as two separate businesses, and nothing changes for now in terms of your relationship with us. There are a lot of questions we can’t answer yet, as we’re just starting the work of bringing our companies together. You’ll be hearing more from us throughout this transition. In the meantime, your account executive, territory manager or agency CARE consultant remain available to help.
We’re as committed to your success and the success of the independent agency system as ever, and I know Liberty Mutual shares that commitment. Thank you for joining us on this journey, and for being a valued State Auto partner.
Best,
