SAFECO Corporation, through its operating subsidiaries, is engaged in the insurance industry and other financial services-related businesses. The Companys two principal businesses are property and casualty insurance, including surety; and life insurance and asset management. The Company manages its Property & Casualty business through four operating segments: Safeco Personal Insurance (SPI), Safeco Business Insurance (SBI), Surety and Property & Casualty Other (P&C Other). Life & Investments provides a broad range of products and services that include individual and group insurance products, annuity products, mutual funds and investment advisory services. These operations are comprised of the following reportable segments that focus on different products, markets or distribution channels: Retirement Services, Income Annuities, Group, Individual, Asset Management and Life & Investments Other (L&I Other).