EMC Insurance Companies (EMC) has entered into an agreement with Safeco Insurance, a Liberty Mutual Company, to offer EMC-licensed agents opportunity to transition their EMC personal lines policies to Safeco starting from the first quarter of 2019.
Image: EMC Insurance, Safeco sign agreement on transition of personal lines business. Photo: courtesy of rawpixel/Unsplash.
This agreement is a result of Des Moines-based EMC making a strategic decision to dedicate more time and resources to its commercial, reinsurance and life businesses across 43 states, which accounts for more than 90 percent of the company’s current premiums.
The agreement with Safeco will also allow EMC to provide a smooth transition for personal lines policyholders, and the independent agents in 23 states they currently utilize to sell and service personal lines policies.
EMC Insurance president and CEO Bruce Kelley said: “The personal lines marketplace is highly competitive and has evolved significantly since we first entered it back in the 1950s. This is a decision we made with careful, strategic consideration given our long history in the business,” said Bruce G. Kelley, President and CEO of EMC Insurance Companies.
“We are focused on maximizing profit and growth potential and believe that can best be accomplished by further strengthening and expanding our commercial lines.”
As one of the country’s leading personal lines insurers, Safeco is no stranger to this type of arrangement. The company has developed similar agreements with other insurers in the past few years given Safeco’s book transfer expertise and high levels of satisfaction for personal lines among independent agents.
Safeco Insurance IA Channel Growth and Engagement senior vice president Gary Fischer said: “We are pleased to have been selected by EMC for our industry-leading approach to book transfers, which combines excellent products and technology with an agent-first culture.
“We are committed to the success of the independent agent channel and are excited to work with EMC agents throughout this transfer to provide customers with a smooth transition.”
Source: Company Press Release