Westfield Celebrates 175 Years – Proud of the Past. Poised for the Future
WESTFIELD CENTER, OH (February 8, 2023) — Westfield, a leading U.S.-based property and casualty (P&C) insurance company, is proud to recognize a significant milestone in the company’s history: 175 years of enabling customers' peace of mind and financial stability. Founded on February 8, 1848, the company has grown from the grassroots of Ohio to a global brand. Westfield celebrates 175 years remaining true to the vision of the original founders and dedicated to making a positive difference in the lives of employees, customers, agent and broker partners, and the communities in which we do business.
“I am both thrilled and humbled to lead Westfield as we recognize this extraordinary milestone,” says Ed Largent, Westfield President, CEO, and Board Chair. “Since 1848, our company has grown and thrived. We’ve also weathered trying times including wars, depressions, recessions, and global pandemics. Looking at our past, present and future, our people have been key to our success. The Westfield team is the reason we’ve survived and thrived for 175 years.”
Independent insurance agents have always been integral to the company’s success. Today, there are more than 1,000 Westfield appointed agencies across the country, with 35 agencies representing Westfield for more than 100 years. With the introduction of Westfield Specialty in 2021, the breadth and number of our distribution partnerships have expanded significantly.
“As we celebrate this milestone, we’re also focused on what’s ahead to continually anticipate the needs of our customers,” continues Largent. “And as a mutual insurance company, the needs of our customers always come first. Along with our people, being a mutual is a key differentiator.”
With a storied past and a bright future, Westfield continues to embrace change and innovation to lean into the future, including recent expansion into U.S. specialty market with the establishment of Westfield Specialty, and entry into the global specialty marketplace through the recent acquisition of Lloyd’s of London Syndicate 1200.
Westfield takes pride in the strong, steadfast company of today, and is well-positioned for the next 175 years.
Financial Stability and Expansive Footprint
· More than $8.7 billion in GAAP assets.
· AM Best Financial Strength Rating of “A” or better since 1934.
· Through an extensive network of independent agents and brokers, Westfield provides personal insurance in 10 states, commercial insurance in 21 states and surety and specialty products in 50 states.
· Westfield entered the Specialty market in July 2021. Capping off a strong first 18 months in the market, Westfield Specialty recently expanded into the global market with the acquisition of Lloyd’s of London’s Syndicate 1200.
· Among the top writers of farmowners policies in the United States.
Beyond P&C Insurance
· Westfield Bank: Established in 2001, Westfield Bank has been a steadfast presence in the northeast Ohio community. Delivering a more personalized service providing financial services at lower costs than the bigger banks and niche opportunities for insurance agency banking through deep industry knowledge and expertise.
· Westfield Insurance Foundation: Established in 2005 as an independent private foundation endowed by Westfield. In keeping with the values of the insurance industry, the Foundation exists as a dedicated community and industry partner; concentrating resources to have an impact on safety, disaster recovery and family stability. Within each area, the Foundation prioritizes addressing burdens suffered as a result of systemic racism and donates over $3 million annually to a variety of charities.
· 1848 Ventures: In 2018, Westfield established 1848 Ventures to partner directly with small business owners across a variety of industries such as construction, hospitality, real estate, and manufacturing, to gain ground-level insight and develop solutions at scale, empowering business owners to make insight-driven, impactful decisions.