Mercury Insurance has announced a strategic partnership with Liberty Mutual Insurance to take on thousands of Safeco Insurance customers in California following changes to Liberty Mutual’s personal lines product strategy in the state.
Under the agreement, Liberty Mutual will encourage its appointed independent agents to place impacted Safeco renters, condo, and select auto policies with Mercury to ensure customers experience a smooth transition.
Mercury CEO Gabriel Tirador said, “Mercury and Safeco have long had a healthy, competitive relationship, sharing a common desire to protect California consumers. When Safeco approached us with the idea of transitioning their impacted customers into our portfolio, we saw an opportunity for Mercury to be there for California consumers and agents when they need us most. The result is a win for everyone — their customers and agents, Safeco and Mercury.
“Mercury demonstrated its commitment to California in a similar way last year when we took on Tokio Marine’s personal lines business following their decision to no longer sell those lines in the state. We believe in California, and we’re excited to welcome Safeco customers into the Mercury family.”
Liberty Mutual president of independent agent distribution, US retail markets, Luke Bills said, “We are committed to the California insurance market, and independent agents are critical to achieving sustained success. This partnership with Mercury ensures they and our customers have a seamless path available for uninterrupted coverage as we focus on our core auto, home, landlord and liability products throughout the state.”
The deal comes as Mercury continues to provide homeowners policies in areas where other insurers have pulled back, offering a vital alternative to the California FAIR Plan.
Tirador emphasised that the partnership is about more than business growth, citing the positive impact of the California Department of Insurance’s “Sustainable Insurance Strategy” in stabilising the market and creating a transparent model that benefits consumers.
Mercury, which has sold insurance through independent agents for over six decades, sees the move as a way to expand its footprint and enhance coverage options for agents and policyholders.
Nick Colby, Mercury vice president and chief sales officer, said, “Safeco customers are similar to ours in terms of their coverage needs and their insurance agent relationships. Many independent agents already represent both Safeco and Mercury, but for those who don’t have a Mercury appointment, we will immediately begin the process of vetting Safeco agents who are interested in a Mercury appointment.”
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