Seattle-based Safeco has reported its net income for the fourth quarter of 2005 was $190.7 million, compared with $179.8 million during the same period the previous year. For the full year, Safeco reported net income of $691.1 million, compared with $562.4 million in 2004.
The company’s overall property and casualty combined ratio was 89.1 for the fourth quarter, compared with 88.8 the same period in 2004. The combined ratio is the percentage of each premium dollar spent on claims and expenses. The lower the ratio, the better the performance, Safeco said.
Pretax catastrophe losses for the fourth quarter were $51.4 million, primarily due to estimated losses from Hurricane Wilma during the quarter. After reinsurance, the company reported pretax catastrophe losses were $267.4 million for the year, compared with $275.6 million in 2004.
Countrywide Insurance Services is expanding the company’s Southern California presence with the addition of four new commercial insurance producers and with 7,000 square feet of space in Glendale, Calif. to support the growth of its Los Angeles County client base.
Joining the Commercial Lines and Employee Benefits team in Irvine are three new producers who will further expand the national retail brokerage.
Karla Williams, vice president, will focus on general commercial property/casualty insurance with an emphasis on financial institutions and professional liability exposures. She has 25 years of experience in commercial property/casualty insurance. Previously she was vice president at USI Insurance Services in Irvine.
Glenn Roman, vice president, will focus on the construction and property management market segments. He has more than 16 years of industry experience with an emphasis in the construction market niche. Previously he was vice president with USI of Southern California in Irvine.
Ken Salazar, vice president, will focus on all lines of commercial insurance coverage and employee benefits for manufacturers, retail and wholesale facilities, and service industry accounts. He has 30 years of experience in property/casualty and employee benefits. Previously he was at Armstrong/ Robitaille in Orange County, Calif.
Countrywide also has opened a new office at 801 Brand Boulevard in Glendale, Calif., and appointed Tom Feia vice president of the Real Estate Property Practice.
Feia has more than 20 years of experience in commercial property/casualty insurance. Previously, he was a vice president at Armstrong/Robitaille in Los Angeles County.
Five new support staff will join Feia, with a projected number of producers and support staff totaling 30 by year-end.
Wilson, Elser, Moskowitz, Edelman & Dicker
Wilson, Elser, Moskowitz, Edelman & Dicker LLP has relocated its San Francisco office, effective Jan. 30, 2006. The new office will be located at 525 Market Street, 17th Floor, San Francisco, California 94105. Phone: (415) 433-0990. Fax: (41) 434-1370. E-mail: Louie Castoria at Louis.Castoria@ WilsonElser.com.
Seattle Financial Group, Turnure & Associates
Seattle Financial Group, an independent mortgage banker, has acquired Turnure & Associates, a property and casualty insurance broker. Seattle Insurance Group, the new insurance arm of the company, will offer business, personal, and life insurance products to consumers.
Tom Turnure, former owner and principal of the agency, was appointed president of the insurance group and will assume leadership responsibilities of the Financial Group’s insurance services unit. The company had previously announced a joint venture with the company in May 2005.
Insurance representatives, located at 190 Queen Anne Avenue North, in Seattle, will offer coverage for commercial business, home, auto, life, yachts, and fine art, among other things.
Ck Specialty Insurance Associates
Ck Specialty Insurance Associates Inc., a surplus line broker and managing general agent, has opened a new facility in Las Vegas. Geri Tatone has been named the Nevada branch manager.
Tatone has more than 25 years of experience in the insurance industry, specializing in property, casualty and workers compensation coverage. During her career, she has been responsible for functions such as underwriting, brokering, marketing and producer cultivation.
Along with the Nevada office, Ck Specialty has offices for retail agents in California and Oregon. For more information, visit www. ckspecialty.com, or contact the Nevada office toll-free at (800) 411-0083 ext. 325 or via fax at (888) 929-0808.
Union Bank of California
Union Bank of California North America, based in San Francisco, has consolidated its insurance operation under the brand UnionBanc Insurance Services Inc.
Union Bank entered the insurance brokerage business in 2001 with the acquisition of Orange County-based Armstrong Robitaille Business and Insurance Services. The additions of 115-year-old John Burnham Insurance Services in 2002 and Pleasanton-based Tanner Insurance Brokers in 2003 expanded the company’s footprint in San Diego and Northern California. In late 2003, Los Angeles County-based Knight Insurance Agency joined the company. The business currently has insurance offices in San Diego, Irvine, Fullerton, Glendale, Pleasanton, San Rafael, Stockton, Sacramento and Portland, Ore.
UnionBanc Insurance Services plans to aggressively grow its client base with an initial focus on expanding in California and Oregon through nine local offices. Visit www.uboc.com for more information.
Topics California
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