Seattle-based Safeco CEO Paula Rosput Reynolds announced the appointment of Michael LaRocco as president and chief operating officer of Safeco Insurance Companies.
In this expanded role, LaRocco will bring together the company’s property and casualty operations and will have profit-and-loss responsibility for all Safeco product lines, including product development, underwriting, claims, service, sales, distribution and market research.
A 27-year insurance veteran, LaRocco started his career at Progressive and later held executive positions at GEICO. He joined Safeco in 2001 to lead the company’s personal lines enterprise.
The company also declared a regular dividend of $0.25 per share on its common stock. The dividend is payable April 24, 2006, to shareholders of record on April 7, 2006.
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
AM Best: Data Centers Pose Risks Beyond What P/C Industry Has Experienced 
Older, Wealthier Renters Drive Changes in Insurance Needs 
El Nino Is Here and Scientists Fear It’ll Bring Costly Heat, Floods, Droughts, Fires 
