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Liberty Mutual acquired Safeco in 2008 for 6.2 Billion Dollars. Since that time, the companies have become more alike than different. The one major difference is that Liberty Mutualâs auto and home products are sold through âexclusive agentsâ whil...
As is typical of most insurers in the United States, Travelers never dissolved the various companies it acquired, but simply made them wholly owned subsidiaries and trained its employees to act on behalf of those subsidiaries. This is a common risk management strategy used by U.S. insurance groups.n 1998, the Travelers Group merged with Citicorp to form Citigroup. However, the synergies between the banking and insurance arms of the company did not work as well as planned, so Citigroup spun off Travelers Property and Casualty into a subsidiary company in 2002, although it kept the red umbrella logo.