Professional Review about Safeway Insurance Group
Have you got your insurance cover? Wait, how many insurance companies do you even know? Today we shall be talking about Safeway Insurance Group.
The largest privately-held and a family-owned insurance company in the United States. Safeway Insurance Group provides primary automobile insurance and other financial services. They have been in existence for over 50 years.
We shall look at the facts about Safeway Insurance Group as listed below.
History
Safeway Insurance Group was founded in 1959 by William J. Parillo. The founder’s father, Richard Parillo, did legal work for Al Capone where he created the United Automobile Insurance Group.
William was lucky to be born in the family of investors as seen in the Chicago Sun-Times. This lead to his successful running of the Safeway Insurance Group to date.
Governance
Did I just tell you that the Parrillo’s family was a family of investors? Yes, the company’s key shareholder is William’s brother, Robert J. Parrillo. The company is headed by William J. Parrillo who is the chairman, president and founder of the Safeway Insurance Group Company.
William continues to lead the company since its foundation in 1959. Another family member Ms. Cara Parrillo Brennan serves as the marketing director. Mr. Robert M. Bordeman is the company’s, Chief Executive Officer. He leads the company’s operation and management in all the 10 states they operate in.
Safeway Insurance location
Safeway Insurance Group is the largest privately held, family-owned company in the United States. Its headquarters is located in Westmont, Illinois in the United States.
Besides its headquarters, Safeway maintains field offices in most of the states it conducts business in, which include; Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Illinois, Louisiana, Mississippi, New Mexico, Tennessee, and Texas.
Operations of Safeway Insurance Group
Safeway Insurance Group makes a yearly revenue of hundreds of millions of dollars, with a revenue of $420 million in 2015.
This makes it one of the richest insurance companies in the entire world. It also employs over 400 employees with 483 employees in 2015.
The company specializes in automobile insurance being marketed and sold by their more than 450 highly skilled in-house insurance professionals and a network of more than 3,200 independent insurance agents.
Besides the automobile insurance and coverage, the company also offers property, fire, marine and casualty insurance in the state of Florida.
Safeway Insurance Group almost faced ejection
In 2006, the Safeway Insurance Company of Georgia was fined $500,000 for violating several state laws by the Georgia Insurance Commissioner and was threatened to be ejected altogether from the state. Despite this loss, the company still continues to grow and earn an excellent rating with a stable outlook.
Final Thoughts
Safeway Insurance Group is one of the most trusted insurance companies in the United States. The company is also well known for its outstanding values in dealing with its clients, business partners and employees.
Due to its good reputation, it has insured thousands of motorists over the years and is now reliably serving more than 250,000 policyholders in 10 states and still continues to grow.
References
https://en.wikipedia.org/wiki/Safeway_Insurance_Group
https://www.bbb.org/us/al/birmingham/profile/auto-insurance/safeway 