Reinsurance News
Liberty Mutual Insurance
Liberty Mutual Re hires new Chief Actuary for Reinsurance
21st July 2021
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has today announced the appointment of Hetul Patel as Chief Actuary, Reinsurance, effective immediately. In his new role, Patel takes on responsibility for driving actuarial insights to aid the reinsurer in meeting its strategic targets. He is set to lead the ... Read the full article
Liberty Mutual Insurance looks to acquire AmGeneral Insurance
20th July 2021
U.S primary insurer Liberty Mutual Insurance has applied for regulatory approval to acquire Malaysian insurer, AmGeneral Insurance Berhad (AmGeneral). AmBank Group currently owns 51% of AmGeneral, with the other 49% owned by Insurance Australia Group (IAG). Liberty Insurance Berhad expects to acquire 100% shares of AmGeneral, and AmBank Group's share of the ... Read the full article
Liberty Mutual announces leadership changes
22nd June 2021
U.S primary insurer Liberty Mutual Insurance has made four key executive leadership appointments. Tim Sweeney has been appointed as President, Liberty Mutual, overseeing Global Risk Solutions, Global Retail Markets and Liberty Mutual Investments, the company's three business units. Sweeney, who was previously President, Global Retail Markets will report to Chairman and Chief ... Read the full article
Liberty Specialty hires Christoph Paeßens as PI Manager for Germany
18th May 2021
Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has named Christoph Paeßens, formerly of AXA XL Germany, as Professional Indemnity (PI) Underwriting Manager for Germany, effective immediately. In his new role, Paeßens will be based in Cologne, Germany, reporting to Interim Country Manager Angelika Gasser, and Head of PI for ... Read the full article
Liberty Mutual Insurance adds Serafeim to board of directors
30th April 2021
U.S primary insurer Liberty Mutual Insurance has appointed George Serafeim to its board of directors. Sarafeim is a Charles M. Williams professor of business administration at Harvard Business School and senior partner and co-founder of the global sustainable business consulting firm KKS Advisors. He brings a wealth of experience in accounting, finance ... Read the full article
Liberty Specialty names Jane Warren as Active Underwriter
14th April 2021
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Jane Warren as Active Underwriter, effective immediately. Based in London, Warren reports to Phil Hobbs, Deputy Managing Director and Chief Underwriting Officer (CUO) for LSM. She brings over 20 years’ experience in the insurance industry, joining Liberty in 2019 from ... Read the full article
Liberty (LSM) names Lesley Harding as Global Head of Energy
14th January 2021
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has unveiled Lesley Harding as its new Global Head of Energy, effective immediately. Based in the company's London office, Harding reports to Michael Gosselin, Chief Underwriting Officer (CUO), Specialty. In her new role, she takes on responsibility for the firm's global ... Read the full article
Liberty Mutual signs UN Principles for Responsible Investment
22nd December 2020
U.S primary insurer Liberty Mutual has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI). Liberty Mutual is the first US Property and Casualty insurer to join the international network of institutional investors committed to including ESG factors in their investment decision making. Liberty Mutual Chief Investment Officer Neeti ... Read the full article
Enstar inks $420mn reinsurance deal with Liberty Mutual
7th December 2020
Legacy acquirer Enstar Group Limited has entered into a new reinsurance deal with Liberty Mutual Insurance Europe SE (LMIE) that will see it assume approximately $420 million of legacy business. Under the terms of the agreement, Enstar will reinsure a number of insurance portfolios that were previously written out of LMIE’s ... Read the full article
Liberty Mutual’s Q3 income rises to $397mn despite almost $1bn of cat losses
5th November 2020
Liberty Mutual Holding Company Inc. (LMHC) and its subsidiaries today reported a 46% rise in net income for the third-quarter of 2020 to $397 million, despite a significant increase in quarterly catastrophe losses, year-on-year, to $980 million. For the quarter, net income jumped from the $125 million reported for the second-quarter ... Read the full article
Liberty Mutual to provide cover for Lyft
5th October 2020
Global insurer, Liberty Mutual Insurance has announced that it has been selected by rideshare provider, Lyft, to provide cover for its drivers using its rideshare platforms, effective today. Under the program, Liberty Mutual provides specific coverages for drivers in Arizona, Michigan, New Mexico, Texas and Utah, and will cover from the ... Read the full article
Liberty Mutual’s Q2 result hit by elevated cats & significant COVID-19 losses
6th August 2020
Liberty Mutual Holding Company Inc. has recorded a net loss of $320 million for the second-quarter of 2020 amid elevated catastrophe losses and significant impacts from the ongoing COVID-19 crisis. All in all, Liberty Mutual's catastrophe losses jumped by a substantial $384 million from the second-quarter of 2019 to $878 million, ... Read the full article
Liberty Specialty Markets promotes O’Neill to CUO, Commercial
10th July 2020
Liberty Specialty Markets, a division of insurer and reinsurer Liberty Mutual Insurance Group, has promoted Melanie O'Neill to Chief Underwriting Officer (CUO) of its Commercial arm. O'Neill previously served as Head of Professional Lines at the company and takes up her new role with immediate effect. She takes over as CUO of ... Read the full article
David Perez to succeed James Slaughter as CUO of Liberty GRS
21st May 2020
Liberty Mutual Insurance has announced that David Perez has been appointed as Chief Underwriting Officer (CUO) for its Global Risk Solutions (GRS) division. Perez takes over from James Slaughter, who has decided to leave the company effective June 30th, 2020. As CUO of Liberty Mutual's global commercial and specialty lines insurer and ... Read the full article
Liberty Mutual expands tech used to remotely adjust claims
20th May 2020
Liberty Mutual Insurance's commercial property claims unit has expanded on the technology it uses to inspect and estimate commercial property claims remotely. This move is in response to the need for physical distancing and in anticipation of what is predicted to be a greater than normal Atlantic hurricane season. The unit introduced ... Read the full article