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.
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