Group to become fifth largest US property and casualty insurer with acquisition of Safeco
Liberty Mutual Group, the US parent company of Liberty International Underwriting (Europe), is looking to buy Safeco, the US SME insurer, for $6.2bn, reports said today.
The deal would make Liberty Mutual the fifth largest US property and casualty insurer.
Safeco will be offered $68.25 cash per Safeco share, a premium of over 50% to Safeco's closing stock price on Tuesday.
