Liberty Mutual Insurance has announced it will market and sell all of its personal lines products solely under the Liberty Mutual brand beginning next year.

Safeco Insurance, the company’s brand within the independent agent channel, will retire as a brand. Safeco customers will keep their agent relationship, and their policies will not be impacted other than the name change, according to a press release from Liberty Mutual.

“This transition will allow us to fully harness the Liberty Mutual brand value for all of our customers, agents, and partners, across all distribution channels,” said Tyler Asher, Liberty Mutual U.S. retail markets chief distribution and marketing officer, in the release.

“Importantly, this will significantly simplify our business, allow us to dedicate our considerable marketing power behind a single brand, and enable us to leverage and scale our technology to deliver unified but differentiated products and experiences across channels.”

Luke Bills, independent agent distribution president, added, “The Safeco legacy is one of strength, partnership, and an unwavering commitment to independent agents. We will carry that legacy forward and will bring our agents even greater value with this brand change.”

Since acquiring Safeco in 2008, Liberty has maintained the brand name for its home, property, and specialty lines of business in the independent agent channel, according to the release. Liberty says Safeco has grown to more than $13 billion in annual premiums, offering personal auto, property, and specialty products in 48 states through a network of more than 22,000 independent agencies.

Liberty also sells directly to consumers online and through licensed sales representatives at call centers. The direct and independent agent channel product offerings will remain differentiated.

During Liberty’s Q4 2024 earnings call held earlier this month, Hamid Talal Mirza, U.S. retail markets executive vice president and president, said the company increased its marketing spend during the quarter.

In addition, Liberty “took targeted rate decreases to drive growth, reduced underwriting restrictions in nearly all states and leveraged our strong network of independent agents,” he said.

“We are focused on transforming USRM for the future to be simpler, more efficient and faster,” Talal Mirza said. “Sunsetting the Safeco brand will allow our independent agents to take advantage of the stronger brand awareness of our Liberty Mutual name nationwide. Further, moving to a single brand will help us take a key step towards simplifying our operations. Overall, the fourth quarter mirrored the strong performance we’ve seen throughout the year. Disciplined underwriting decisions, reduced frequency loss trends, and focused expense management have all played a pivotal role in our strengthened financial results. With profit challenges firmly in the rearview mirror, we are primed to fight for market share in 2025 and beyond.”

President Timothy Michael Sweeney, who is also CEO and director, said Liberty closed 2024 with the strongest balance sheet in the company’s history and lowest combined ratio in 20 years “while never losing sight of the needs of our customers and partners.”

“Our ongoing improvements in underwriting and operations have positioned us exceptionally well for what’s ahead,” Sweeney said. “Moving to top line, net written premium for the quarter dipped slightly from prior year to $10.6 billion, largely attributable to the strategic actions we implemented earlier in the year and at curbing new business growth, especially in the private passenger auto segment of our U.S. retail markets.

“We’ve pivoted to growth in select products, geographies, and distribution channels where we can effectively generate target returns. By strategically pursuing these opportunities, our aim is to enhance our market position while ensuring sustainable profitability for the future… We believe that by balancing growth with prudent business discipline, we can better serve our customers and support the communities where we live and work. This approach will not only strengthen our financial foundation but also position us effectively to respond to the evolving needs of our policyholders and the challenges within our industry.”

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