SAFECO Brings on Ex-GEICO Executive as New President and CEO

Seattle-based SAFECO appointed Michael LaRocco, a former vice president with GEICO, as president and chief operating officer of its $2.6-billion SAFECO Personal Insurance business.

LaRocco, 44, has more than 20 years experience in the insurance industry. He most recently served as vice president of GEICO’s $1.2 billion operations in the northeast United States. Since he took over that position in 1998, the region has generated double-digit growth, according to the company. He also led the development of GEICO’s non-standard auto insurance product and managed underwriting, heading a successful initiative to automate the company’s underwriting processes.