Safeco was founded in 1923, originally under the name General Insurance Company of America. This name is still found on some documents, however, the more commonly used name that was adopted in the early 1950’s is Selective Auto and Fire Ensurance Company of America.
Today, Safeco operates as a subsidiary of Liberty Mutual Insurance Company. In 2006, the company had annual revenue of $6.29 billion and employed more than 7,000 persons. The company provides property and casualty insurance, sold via a network of independent agents, as well as online sales.
Safeco replaced the former Brooklyn building with a 22 story tower in Seattle, Washington, called Safeco Plaza. A new headquarters was constructed in 2007 on Fourth Avenue, which is the new home of “Safeco Plaza”, the old building is now called the UW Tower.