Look out State Auto ! Lib Mutual is lookin’ to buy somebody! And they’re not too happy that they got snuffed out on Harleysville. The last time that happened, they got swatted by QBE and they turned around and nailed Ohio Casualty about 4 months later. If not State Auto, it could be Selective or West Bend. We’ll see.
I would think more of State Auto. I dont see Selective or West Bend being bought at this point. State Auto as we all know is in a world of hurt and the time looks right to take advantage!
Hopefully NOT Liberty. Based on the comments below by CEO David Long, if they buy State Auto the rates will go up.
“Operating results in the fourth quarter were adversely affected by the Thailand floods, bringing our pre-tax catastrophe losses for the year to a historically high level of $2.7 billion,”
He said Liberty Mutual will continue with the same strategy. “We’ll grow where we can do so profitably and contract where we need to. This rule applies to any business segment, geography or product.”
He said the company is seeking rate hikes of over 3 percent in personal auto insurance and 5.5 percent in homeowners insurance in the U.S
Look out State Auto ! Lib Mutual is lookin’ to buy somebody! And they’re not too happy that they got snuffed out on Harleysville. The last time that happened, they got swatted by QBE and they turned around and nailed Ohio Casualty about 4 months later. If not State Auto, it could be Selective or West Bend. We’ll see.
I would think more of State Auto. I dont see Selective or West Bend being bought at this point. State Auto as we all know is in a world of hurt and the time looks right to take advantage!
The question is, who buys State Auto? Liberty Mutual, QBE, or Sentry?
Hopefully NOT Liberty. Based on the comments below by CEO David Long, if they buy State Auto the rates will go up.
“Operating results in the fourth quarter were adversely affected by the Thailand floods, bringing our pre-tax catastrophe losses for the year to a historically high level of $2.7 billion,”
He said Liberty Mutual will continue with the same strategy. “We’ll grow where we can do so profitably and contract where we need to. This rule applies to any business segment, geography or product.”
He said the company is seeking rate hikes of over 3 percent in personal auto insurance and 5.5 percent in homeowners insurance in the U.S