Liberty Northwest Insurance Corporation has announced the intended purchase, pending regulatory approval, of Oregon Auto Insurance Company, along with its subsidiary North Pacific Insurance Company.
As two of the largest regional insurers in the Northwest, Liberty Northwest and North Pacific/Oregon Auto offer insurance programs for workers’ compensation, other property and casualty coverages and personal lines.
Together, the combined companies will have nearly $300 million in premium in Oregon, Washington and Idaho and will be one of the larger regional property and casualty insurers in the Northwest.
Stuart Hall, president of Liberty Northwest, commented that by combining the strengths of both Liberty Northwest and North Pacific/Oregon Auto, insurance customers throughout the Northwest will have more choices in programs and products that are specifically designed to meet their local needs.
According to Hall, the new venture represents many opportunities for both companies. In addition to years of experience in the Northwest, both Liberty Northwest and North Pacific/Oregon Auto have complementary insurance product lines. By pooling financial strength and insurance knowledge, and customer base, the combined companies will be able to develop innovative new programs to better serve businesses and consumers in the region.
As a provider of private workers’ compensation in Oregon, Idaho and Montana, Liberty Northwest has provided workers’ compensation insurance to Northwest employers since 1983. Liberty Northwest also offers commercial lines property and casualty insurance programs and has locations in Oregon, Idaho, Montana and Alaska.
Liberty Northwest is a wholly owned subsidiary of Liberty Mutual Insurance Company. The Liberty Northwest and Oregon Auto Insurance/North Pacific Insurance proposed purchase is part of a larger agreement in principle between Liberty Mutual and OneBeacon Insurance Group to establish a business partnership.
North Pacific/Oregon Auto, founded in 1925, writes a full line of commercial and personal lines insurance products in Oregon, Washington and Idaho. With branch offices in Bothell, Wash., and Portland, Ore., North Pacific/Oregon Auto is a leading independent agency company.
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