SAFECO INSURANCE CEO RETIRING; WILL RUN FOR U.S. SENATE

Insurance executive Mike McGavick, who is retiring as chief executive officer of Safeco Insurance, has announced his bid for Senator of Washington.

For the past three months, McGavick said he has been exploring whether he had enough support and financial backing. To date, he has raised more than $800,000. He will be running against Democratic candidate Maria Cantwell.

Attorney General Rob McKenna, former U.S. Rep. Jennifer Dunn, and state Senate Republican Leader Bill Finkbeiner are backing McGavick. McGavick said he plans to split his time between campaigning and working at Safeco for the remainder of 2005.