SAFECO Reaffirms Lloyd’s Commitment Following Syndicate Head’s Resignation

September 3, 2001

Seattle’s SAFECO reaffirmed its commitment to remain its Lloyd’s operations following the resignation of Ralph Bailey as managing director of Syndicate 138, R.F. Bailey (Underwriting Agencies) Ltd,. which it acquired in 1999.

While announcing Bailey’s resignation Friday, SAFECO took the opportunity to express confidence in Jonathan Gale, “who took over as the active underwriter for Syndicate 138 earlier this year,” and to state that it was meeting with Bailey’s Directors to review the company’s succession plan.

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