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Safeco Reports Its Best Financial Performance in Five Years.
Safeco, parent of mortgage industry insurance specialist Safeco FIS, reported net income of $339.2 million last year, or $2.44 per share, for its best performance since 1998. In 2002, the company reported net income of $301.1 million.
The company said it enjoyed "strong progress" in primary property and casualty businesses.
Mike McGavick, Safeco chairman and CEO, said the performance indicates that "the automated sales and service platform we are building to drive profitable growth are producing excellent results and hold great promise for our future."
He noted that the results come despite an environment of uncertainty in the company's life and investments business, which Safeco has said it intends to sell.
The company did take some hits in the fourth quarter, including a $6 million after-tax restructuring charge related to the company's efforts to reduce expenses by $75 million this year.
The company also said total losses from California wildfires were $10.5 million.
"Our P&C businesses are not operating in line with our profit hurdles. Even with the ...
- Safeco FIS Opens Tustin CA Office.(Brief Article)
- Magazine article from: Mortgage Servicing News November 1, 2003 700+ words
...Calif. The new facility is located near the company's Santa Ana headquarters. The company said it will provide expanded servicing capabilities...perform a variety of servicing functions. Safeco FIS is a member of the Safeco Corp., based in...
- Safeco FIS Recognizes Nonprofit Leaders.(Brief Article)
- Magazine article from: Mortgage Servicing News March 1, 2003 700+ words
...selected as one of Safeco Corp.'s 12 national winners of the company's annual Rudy Award, which recognizes extraordinary nonprofit...Pictured from left to right are Dale Yellin, president of Safeco FIS, Calla Taylor, manager of risk management solutions, who...
- Assurant Acquires Safeco Financial Institution Solutions, Inc.
- Press release article from: PR Newswire May 1, 2006 700+ words
Company Strengthens...Inc. ("Safeco FIS"), a California...insurance companies. Robert...said: "Safeco FIS aligns well...benefit both companies' clients...Integration of the Safeco FIS operation...insurance company based in...
- Assurant to Close Indianapolis Insurance Service Center.
- Press release article from: PR Newswire June 2, 2006 700+ words
...said that the Safeco FIS center in Indianapolis...Assurant and former Safeco FIS service centers...he said. "The Safeco FIS team in Indianapolis...150 jobs to other company service centers...Specialty Property companies are leading providers...
- Informatica Recognizes Top Innovators in Data Integration and Business...
- Press release article from: PR Newswire October 22, 2003 700+ words
...Awards today to companies that have successfully...the Red Cross, Safeco FIS and Waste Management...plasma collection companies, is using PowerCenter...pharmaceutical company Pfizer Inc. successfully...Data Migration: Safeco FIS The Financial Institution...
- Eric Juarez.(Safeco Financial Institutions appointment)(Brief Article)
- Magazine article from: Mortgage Servicing News May 1, 2003 700+ words
...officer. Mr. Juarez reports to Safeco FIS president Dale Yellin and fills...Division. Mr. Juarez comes to Safeco FIS from Kemper Employers Group, a subsidiary of Kemper Insurance Companies. Copyright 2003 Thomson Media...
- People.
- Magazine article from: National Mortgage News February 17, 2003 700+ words
...Gunderson to lead and manage the company's national relationship management...lending industry. She joined SAFECO FIS in 2001, coming from ACE USA...Steven Chiou has joined the company as executive vice president...named Frank Plenskofski as the company's senior vice president...
- Servicing People.(Lynn Halstead has been named senior vice president of...
- Magazine article from: Mortgage Servicing News April 1, 2003 700+ words
...Gunderson to lead and manage the company's national relationship management...lending industry. She joined SAFECO FIS in 2001, coming from ACE USA...Steven Chiou has joined the company as executive vice president...named Frank Plenskofski as the company's senior vice president...
Source: HighBeam Research, Safeco Reports Its Best Financial Performance in Five Years.