SAFECO Corporation
Industry: Insurance (Prop. & Casualty)

SAFECO, in business since 1923, is a Fortune 500 company based in Seattle that sells insurance and related financial products through more than 17,000 independent agents and financial advisors.

Business Summary
SAFECO Corporation is a property and casualty insurance company. The Company has four business segments: Safeco Personal Insurance, Safeco Business Insurance, Surety and P&C Other. Safeco Personal Insurance offers auto, homeowners and other property and specialty insurance products for individuals. Safeco Business Insurance offers business owner policies, commercial auto, commercial multi-peril packages, commercial property, general liability and workers compensation policies to small and medium-sized businesses. Surety offers bonds that provide payment and performance guarantees primarily for construction businesses and corporations. P&C Other includes large commercial business accounts in runoff and other business and programs that the Company has exited. During the year ended December 31, 2004, SAFECO completed the sale of its Life and Investments business. The Company rolled out Safeco Now, its unified, Web-based, sales-and-service platform.

Financial Summary
For the nine months ended 30 September 2005, Safeco Corporation's revenue rose 3% to $4.76B. Net income from continuing operations increased 14% to $500.4M. Revenue relects improved performances in property lines, accurate pricing and catastrophe management. Net income also benefited from lower losses on debt repurchases and less finace cost. The company is engaged in insurance and other finace- related business.