SAFECO Corp. announced that wholly owned subsidiary SAFECO Select Insurance Services, based in Santa Ana, Calif., has changed its name to SAFECO Financial Institution Solutions to reflect the broader array of property /casualty insurance products and services it now offers financial institutions. The company noted that SAFECO’s acquisition last fall of ACE USA’s Financial Institution Specialists division brought $80 million of additional premium to the company’s book of business, making SAFECO Financial Institution Solutions the second-largest provider of lender-placed hazard insurance outsourcing and tracking, as well as other property and casualty insurance products and services for financial institutions.
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