Safeco Names Kelly New CIO

May 24, 2005

Seattle-based Safeco has named Richard Kelly as the company’s new chief investment officer.

Kelly brings more than 20 years of experience in analyzing, executing and leading investment strategies for property and casualty insurance companies. Most recently, Kelly served as chief investment officer for Main Street America Group — a group of insurance companies with headquarters in Florida and New Hampshire.

At Safeco, Kelly will lead the team responsible for managing the company’s $10 billion investment portfolio. Kelly also will be a member of Safeco’s senior leadership team.

Before joining Main Street America Group, Kelly held key leadership positions at Ohio Casualty Corporation, including senior vice president and chief investment officer.

Kelly replaces Ron Spaulding, who recently retired as Safeco’s chief investment officer after 30 years with the company.

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