Liberty Mutual Insurance President and Chief Executive Officer, Tim Sweeney, has announced key organizational changes and new executive leadership appointments that will be effective starting August 1st. These changes are aimed at enhancing focus on long-term strategic markets while leveraging scale advantages to drive improved profitability and faster innovation.
It includes the appointment of Hamid Mirza as President of US Retail Markets. This newly formed business unit will deepen the company’s focus on personal and small commercial insurance lines in the US.
The unit represents the sixth-largest personal auto insurer, the third-largest home insurer and the largest multi-line small commercial insurer in the US, with net written premiums of nearly $30 billion in 2022, says the firm.
Previously, Mirza served as President of Global Retail Markets (GRM) US, and will report to Sweeney.
Asia Retail Markets, the company’s personal and small commercial insurance business in the region, will join Global Risk Solutions, Liberty Mutual’s global commercial and specialty division. This brings together the company’s personal, commercial, specialty lines, and reinsurance operations in Asia to create a unified strategy and leverage scale.
Phil Hobbs, President and Managing Director of Liberty Specialty Markets, will oversee the company’s international insurance footprint.
Defne Turkes is to continue in her role as President of Asia Retail Markets, reporting to Hobbs. Hobbs continues to report to Neeti Bhalla Johnson, President of GRS.
Enterprise Transformation and Solutions is another newly formed enterprise function that will lead the company’s efforts to drive expense improvement and operational excellence.
The function will be led by Jim MacPhee, who has been appointed as the Chief Operating Officer of Liberty Mutual. MacPhee previously served as President, GRM, and will continue to report to Sweeney.
Sweeney commented, “As we continue to operate in a world of profound and accelerating change, we remain committed to keeping our promises and delivering exceptional value to our customers, agents, brokers and partners. Ongoing optimization of our product portfolio and global footprint, coupled with investment in new, innovative capabilities will ensure we achieve sustained success.”
