SAFECO Announces Key Finance Appointments

July 4, 2002

SAFECO’s CFO Chris Mead announced another addition to her leadership team by appointing a new corporate controller. This is the latest in a series of key positions Mead has filled since joining SAFECO earlier this year.

“We’ve assembled an experienced team of financial executives to broaden our analytical and planning capabilities,” Mead said. “The team is focused on making the Finance organization a strategic partner deeply involved in all of SAFECO’s business decisions.”

New members of the Finance team include:

• Richard Levy, SAFECO vice president and corporate controller. Levy joins SAFECO from Washington Mutual, where he served as corporate controller from 1998 to 2001 and, most recently, chief financial officer for the company’s Specialty Finance Business Unit. Between 1995 and 1998, Levy was chief financial officer at Community Trust Bancorp of Kentucky. He replaces Paul Lowber, SAFECO’s controller for the past five years, who will remain with the company through the end of August to assist in the transition.

• Ajay Kaul, who was named in May to the newly created position of vice president of financial planning. A veteran industry executive, Kaul has held key planning positions with in New York; ACE Limited in London; American International Group, both in New York and London; and Khyber International of Copenhagen.

• Terri Williams, who was named in March to the newly created position of vice president of risk management and chief actuary. Most recently, Williams was responsible for personal lines product management at Travelers Property Casualty. She also served as chief actuary at Travelers.

In addition, SAFECO recently appointed the following individuals to serve in the newly created role of senior financial officer for the company’s business units, reporting both to Mead and to the business unit presidents:

•Michael Campbell, senior financial officer for SAFECO Business Insurance. Campbell has worked in SAFECO business insurance operations since 1993.

•Leslie Rice, senior financial officer for SAFECO Life & Investments. Rice joined SAFECO in 1999 as controller for Life & Investments. Prior to that, she held senior positions at PEMCO Financial Services and was a public accountant with Coopers & Lybrand.
Greg Tacchetti, senior financial officer for SAFECO Personal Insurance.

• Tacchetti joined SAFECO from GEICO late last year as an assistant vice president for underwriting.

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