Liberty Mutual is owned by Liberty Mutual policyholders, since it is an insurance mutual insurance company and its shares are not available to investors in the public market. Among the 10 largest auto insurance companies in the U.S. In the U.S., Liberty Mutual was founded in 1912 as the Massachusetts Employee Insurance Association (MEIA), following the passage of a Massachusetts law in 1911 that required employers to protect their employees with workers' compensation insurance. Liberty Mutual settled the lawsuit in December 2001, which required additional disclosure and limited some compensation to company officers and directors.
The institute's findings are the basis for the safety programs, recommendations and software used by Liberty Mutual's loss control consultants to help policyholders improve worker safety. In addition, Liberty Mutual acquired all of the publicly traded common shares of State Auto Financial Corp. Founded in 1954, the Liberty Mutual Research Institute for Safety studied the occupational safety and health of workers. Passenger car insurance, homeowners insurance, life insurance, annuities and other property and accident products are available through Liberty Mutual's US Consumer Markets line.
The name was changed in 1917 to Liberty Mutual Insurance Company and, through partnerships, the company began offering full-coverage auto policies. Liberty Mutual Group is a diversified global American insurer and the sixth largest property and accident insurer in the United States. The first branch opened in 1914 and, later that same year, the company signed its first car insurance policy. International products are offered to individual and business customers, and include property and accident insurance, as well as health and life insurance products.
Taking advantage of the greater flexibility of the structure of mutual holding companies, Liberty Mutual went from being a single-line and highly regional insurer to one of the world's leading property and accident insurance companies. With the completion of the acquisition, Liberty Mutual also confirms the immediate appointment of Kim Garland as president of State Auto. These products carry the Liberty Mutual Insurance and Sfeco brands, and are distributed through a network of more than 2,300 sales professionals. BOSTON (March 1, 2020) — Liberty Mutual Insurance has completed the acquisition of State Auto Group, a superregional property and accident insurance holding company based in Columbus, Ohio, that distributes personal and small business coverage in 33 states through approximately 3,400 independent agents.
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