Liberty Mutual Completes Colorado Casualty Buy

Liberty Mutual Group says it has finalized its purchase of Colorado Casualty Insurance Company from Orion Capital Corporation. The Colorado Department of Insurance gave final regulatory approval to the transaction on September 28, 1998. Final terms will not be released.

Colorado Casualty, based in Englewood, Colo., employs 100 people. The company focuses on small commercial accounts, with 98 percent of its business being standard commercial property, liability and commercial automobile policies. Colorado Casualty's accounts are produced through independent agents predominantly in rural markets. Operating in 17 states, the company's business is concentrated in the Rocky Mountain states of Colorado, Utah, Wyoming, New Mexico, Arizona, Idaho, Nevada and Montana. Colorado Casualty also serves customers in select Southeastern states.

Fred G. Marziano, president, Commercial Insurance Holdings, at Liberty Mutual, said, ``We are very pleased to have Colorado Casualty join the Liberty Mutual Group. Colorado Casualty's reputation for high-quality service, its knowledge of the small commercial marketplace, its exceptional management team, and the strength of its agency and brokerage distribution system position it well for continued success.''

James E. Morey, Colorado Casualty president, added, ``Colorado Casualty's future is bright today under our new parent, Liberty Mutual, a company that is enthusiastic about the potential of our business and committed to supporting it with the resources we need to grow and develop. Our agent community and policyholders will see no change in our method of operation, and our employees will be well treated as part of the Liberty Mutual family.''