Business Moves

Safeco

Seattle-based Safeco repurchased 10.2 million shares, or approximately 8.8 percent, of its outstanding common stock through an accelerated share repurchase (ASR) program. The shares were purchased from dealer Lehman Brothers at $58.75 per share, totaling approximately $600 million.

In connection with the ASR program, the dealer will purchase shares of Safeco common stock in the market during the next several months. The program should be completed within four to six months. Approximately $400 million of the shares purchased under the ASR program are subject to a cap, a mechanism that sets a maximum price for shares repurchased.

In the first nine months of 2006, Safeco repurchased 10.4 million shares, or 8.5 percent of its outstanding common stock for $562 million. On Nov. 2, 2006, Safeco announced its board of directors had increased the company’s share repurchase authorization to 15 million shares. Following the execution of the current ASR program, approximately 4.8 million shares will remain available for repurchase under board-approved programs.

Heritage General Agency

Heritage General Agency has moved to a new, larger headquarters in the Ernst & Young Plaza in downtown Los Angeles. The company now can be reached at: Ernst & Young Plaza, 725 South Figueroa Street, 19th floor, Los Angeles, CA 90017. Phone: 213-236-4600. Fax: 213-244-9644. Direct phone and fax numbers are at www.heritagegeneral.com. Heritage General Agency is a wholesale insurance brokerage firm.

Kenneth I. Tobey

The Insurance Division of the Oregon Department of Consumer and Business Services (DCBS) has announced that Kenneth I. Tobey Inc., a managing general insurance agency in Lake Oswego, Ore., has closed. DCBS has ordered the agency not to remove its business records from Oregon. The DCBS Insurance Division advises insurance producers who placed business through the agency to contact insurers to make sure their business was placed and insurers received premium payments. For a list of documents that producers may need to verify coverage, visit www.cbs.state.or.us/external /ins/producer/coverage_
documentation.html.

Kenneth I. Tobey was unavailable for comment at press time.

Farmers Insurance Group

Farmers Insurance Group dedicated a new, 120,000-square-foot agent, claims, leadership and management training facility — The University of Farmers — on Nov. 3, 2006, in Agoura Hills, Calif.

Farmers Insurance Group CEO Paul Hopkins said, “The new campus is an expansion of Farmers original dedicated training facility that began in March, 2004 at its original headquarters at the LAX Hilton. After testing the effectiveness of the original facility successfully, we made a decision to expand the University of Farmers’ to Agoura Hills.”

The University of Farmers will offer training to the more than 15,000 Farmers agents; 1,500 new agents; 18,000 employees nationwide; 2,000 new employees; intermediate and advanced training for 7,600 experienced claims staff; and management training for 500 district managers.

The claims training facility has a two-story mock house that provides participants with hands-on training, video feedback skill-practice rooms, a mock auto bay that can house up to 20 damaged automobiles, and audio visual technology.

The University of Farmers’ facility also houses the Martin D. Feinstein Center for Professional Development, which provides resources such as on-line courses and other insurance education programs.

Employers

Employers has established a new office in Salt Lake City to serve the workers’ compensation insurance needs of Utah’s small businesses.

The company specializes in providing workers’ compensation insurance and services to small businesses in low- to medium-hazard groups. Insurance is offered through its subsidiaries, Employers Insurance Company of Nevada and Employers Compensation Insurance Co.

Chris Swensen, executive sales representative for the Western Region, is heading up the Salt Lake City office staff. “Our group of companies could not help but recognize Utah’s healthy rate of economic growth and attractive business climate,” Swensen said.

Swensen is a Utah-licensed insurance agent who previously wrote property and casualty insurance for the Utah Automobile Dealers Association. He also spent several years writing health and dental insurance for Utah’s franchised automotive dealerships.

To reach the Salt Lake City Office, contact: 4001 South 700 East, Ste. 500, Salt Lake City, UT 84107. Phone: 801-264-6690. Fax: 801-264-6691. Web site: www.eig.com.