Safeco Corp - Statement of Changes in Beneficial Ownership (4)

FORM 4 [ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * RUNSTAD JUDITH M	2. Issuer Name and Ticker or Trading Symbol SAFECO CORP [ SAF ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director                      _____ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) 1111 THIRD AVENUE, SUITE 3400	3. Date of Earliest Transaction (MM/DD/YYYY) 9/22/2008
(Street) SEATTLE, WA 98101-3264 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	9/22/2008		U		4000	D	$68.25	5000	D
Common Stock	9/22/2008		U		5000	D	$68.25	0	I	By spouse

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$40.62	9/22/2008		D			2000	5/3/2000	9/22/2008	Common Stock	2000	(1)	0	D
Stock Option (right to buy)	$20.00	9/22/2008		D			2000	5/2/2001	9/22/2008	Common Stock	2000	(1)	0	D
Stock Option (right to buy)	$27.29	9/22/2008		D			2000	5/1/2002	9/22/2008	Common Stock	2000	(1)	0	D
Stock Option (right to buy)	$33.32	9/22/2008		D			2000	5/7/2003	9/22/2008	Common Stock	2000	(1)	0	D
Restricted Stock Rights   (2)	(3)	9/22/2008		D			2500	5/5/2004	9/22/2008	Common Stock	2500	(4)	0	D
Restricted Stock Rights   (2)	(3)	9/22/2008		D			2500	5/4/2005	9/22/2008	Common Stock	2500	(4)	0	D
Restricted Stock Rights   (2)	(3)	9/22/2008		D			2500	5/4/2006	9/22/2008	Common Stock	2500	(4)	0	D
Restricted Stock Rights   (2)	(3)	9/22/2008		D			2500	5/3/2007	9/22/2008	Common Stock	2500	(4)	0	D
Restricted Stock Rights   (2)	(3)	9/22/2008		D			1825	5/7/2008	9/22/2008	Common Stock	1825	(4)	0	D

Explanation of Responses:
( 1)	Pursuant to a merger agreement between Safeco Corporation and Liberty Mutual and upon the effective date of the merger, each outstanding stock option to purchase shares was canceled and converted into the right to receive a cash payment in an amount equal to $68.25 per share, minus the exercise price per share of the option and any applicable tax withholdings.
( 2)	Grant of Restricted Stock Rights (RSRs) exempt under 16b-3. RSRs represent the right to receive shares equal to the value thereof, provided the Reporting Person remains in Safeco Corporation's service until a specified vesting date.
( 3)	RSRs are convertible into common stock on a 1 for 1 basis.
( 4)	Pursuant to the merger agreement and upon the effective date of the merger referenced above, the Reporting Person received $68.25 per share for the number of RSRs held, minus any applicable tax withholding.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
RUNSTAD JUDITH M 1111 THIRD AVENUE SUITE 3400 SEATTLE, WA 98101-3264	X

Signatures
Karri J. Harrington, Attorney-in-Fact for Judith M. Runstad		9/24/2008
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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