Reinsurance News
Liberty Mutual Insurance
Liberty Mutual sees big net income improvement in Q1’24, CR hits 95.8%
9th May 2024
Liberty Mutual Holding Company Inc., (LMHC) and its subsidiaries have posted a net income attributable to LMHC of $1.535 billion for the first quarter of 2024. The reported Q1 net income compares to a net loss attributable to LMHC of $74 million that was posted in the same ... Read the full article
LSM enhances CAR book with broker-backed digital capabilities
9th May 2024
Liberty Specialty Markets (LSM), affiliated with Liberty Mutual Insurance Group, introduces a fresh digital trading solution for Contractors All Risks (CAR), crafted in collaboration with Howden. This latest addition, coupled with previously established CAR digital trading solutions with WTW and another major broker, solidifies LSM London’s CAR book with robust ... Read the full article
Liberty Mutual reveals new International Insurance division, Phil Hobbs to lead
17th April 2024
Liberty Mutual Insurance has announced that it has formed a new international insurance business division, set to be led by Phil Hobbs, who serves as President and Managing Director, Liberty Specialty Markets. The new division, dubbed Liberty International Insurance (LII), is the unification of two business operations in Asia. Read the full article
Liberty (LSM) promotes Anabella Frontado to Head of War & Terrorism, US & LatAm
22nd March 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has recently announced the promotion of Anabella Frontado to the newly established position of Head of War & Terrorism for the US and Latin America (LatAm). In her new role, Frontado will oversee the profitable growth of this line of business ... Read the full article
Liberty Mutual’s 2023 net income drops despite strong Q4
7th March 2024
Liberty Mutual Holding Company Inc. has reported a net income of $213 million for the full year 2023, down substantially from the $414 million recorded in 2022, despite a strong end to the year. Liberty’s total net written premium for the full year 2023 grew 2.5% versus 2022, reaching $46.48 billion. The ... Read the full article
Liberty Mutual Insurance hires Marsh’s Case as Global Product Manager, Cyber
9th January 2024
Liberty Mutual Insurance Global Risk Solutions has bolstered it's Cyber insurance team by appointing Elisabeth Case as Global Product Manager, Cyber. She joins the firm following a 16 year tenure at Marsh, where she most recently served as a Managing Director within the firm's US and Canada Cyber Practice. In addition, Case ... Read the full article
Liberty Specialty Markets appoints Global Head of Biz Dev & Market Management
5th January 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has hired Andrew Jackson as Global Head of Business Development and Market Management. In the role, he will report to Phil Hobbs, President and Managing Director, LSM, He will also sit on the company's executive team. Jackson replaces Mark Stephenson, formerly Head of ... Read the full article
IRDAI appoints Liberty General Insurance as lead non-life insurer for Delhi
14th August 2023
Liberty General Insurance (LGI), one of the leading non-life insurance companies in India, has been appointed as the lead insurer for Delhi by the Insurance Regulatory and Development Authority of India (IRDAI). The appointment comes as a part of IRDAI’s State Insurance Plan, which aims to enhance financial awareness and drive ... Read the full article
Liberty Mutual hires Goodall as Head of Portfolio Management & Ceded Reinsurance
21st July 2023
Laura Goodall has been appointed Head of Portfolio Management & Ceded Reinsurance at Liberty Mutual Insurance. In the role she will be responsible for portfolio optimization and reinsurance strategy for GRS, making her in charge of reinsurance buying for that unit. A highly experienced veteran within the industry, Goodall brings over 20 ... Read the full article
Liberty Mutual Insurance makes strategic senior appointments
18th July 2023
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 ... Read the full article
Generali to acquire Liberty Seguros for $2.5bn
15th June 2023
Liberty Mutual Insurance has agreed to sell its Madrid headquartered personal lines and small commercial insurance business, Liberty Seguros, S.A., to Generali Group for USD 2.5 billion (EUR 2.3 billion), subject to customary closing adjustments. The deal includes Liberty Seguros operations in Ireland, Northern Ireland, Portugal, and Spain. Liberty Mutual's other European ... Read the full article
Liberty Mutual Insurance appoints Patrick Thielen as Global Head of Cyber
22nd May 2023
Liberty Mutual Insurance Global Risk Solutions (GRS) has appointed Patrick Thielen as Global Head of Cyber. In the role, he will lead the development and execution of a cyber strategy that helps brokers and buyers across the globe better manage cyber exposure. At the same time, he will report to GRS Insurance ... Read the full article
Liberty Mutual falls to Q1 loss of $74 million as catastrophes take heavy toll
11th May 2023
Liberty Mutual Holding Company has reported a net loss of $74 million in Q1 of 2023, which the firm's CEO attributes primarily to "elevated catastrophe losses largely driven by severe weather storms across the Midwest." The reported Q1 net loss compares to a net income attributable to Liberty Mutual of $498 ... Read the full article
Liberty Mutual sees dip in net income in Q4 results
23rd February 2023
Liberty Mutual Holding Company Inc., (LMHC) and its subsidiaries has reported net income attributable to LMHC of $612 million for the fourth quarter of 2022, a 15.2% decrease from $722 million from the prior year quarter. Net written premium (NWP) for the quarter was $11.524 billion, representing a 4.5% rise from $11.028 billion ... Read the full article
Liberty Mutual launches cyber office and makes new appointments
13th February 2023
Liberty Mutual, a property and casualty insurer, has announced the formation of a Global Risk Solutions (GRS) Global Cyber Office, as well as the appointment of respected experts to key leadership roles. According to the firm, the new office builds and scales Liberty Mutual's cyber capabilities around the world, bringing a ... Read the full article
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