Employers can give their employees a set amount of money and then direct them to a private exchange. There, they can shop for a health plan and other benefits, like dental, based on what the employer has selected as options.
Safeco sale 'bittersweet,' says CEO Reynolds. By DAN RICHMAN, P-I REPORTER. Selling Safeco Corp. was a bittersweet moment, Chief Executive Paula Reynolds said Wednesday, after the announcement that Boston's Liberty Mutual Group will buy the 85-year-old homegrown insurer for $6.2 billion in cash.
She said, We feel we've delivered the company into good hands, but any time you take a fiercely independent company like Safeco and agree to merge it with another entity, it's a bittersweet moment.. Yet Reynolds, who took Safeco's reins in January 2006, tacitly acknowledged the company has been headed toward a sale.