U.S primary insurer Liberty Mutual has announced the launch of Financial Risk Solutions, a new unit formed of credit and political risk experts from Liberty Specialty Markets and Ironshore.
The new unit, based in London, is led by Peter Sprent, Head of Financial Risk Solutions, LSM.
“The creation of Financial Risk Solutions best positions us to deliver our goals of enhancing our market capabilities to grow in the credit and political risk markets,” said Matthew Moore, President, LSM.
Moore added that the unit would enable the provision of “better solutions to our customers in a consistent and coordinated way via our teams around the world – from better access and clarity, to enhanced global solutions and best-in-class claims services.”
The Liberty Specialty Markets credit and political risk claims team, led by LSM Chief Claims Officer Mike Gillett, will oversee claims for the combined unit with immediate effect.
The launch of Financial Risk Solutions does not change the current contacts credit and political risk brokers and customers have at Liberty Mutual.
“While we work to transition towards an integrated global team, brokers and customers should continue to approach the existing teams on a ‘business as usual’ basis,” commented Sprent.
“The goal is to optimize our organizational structure by creating a fully integrated team that best aligns with, and supports, our brokers and customers.”