Reinsurance News
Liberty Mutual Insurance
$82m Jebi loss creep drags down Liberty Mutual Q2 performance
8th August 2019
Liberty Mutual Holding Company and its subsidiaries has reported a Q2 net income of $399 million, a 59.3% drop from the $582 million reported in the prior year quarter. The company is being hit by what has been described by Chairman and Chief Executive Officer, David H. Long, as “unusual volatility ... Read the full article
Liberty Specialty Markets names Jon Rigby Chief Cyber Officer
22nd July 2019
Liberty Mutual Insurance Group subsidiary, Liberty Specialty Markets (LSM), has named Jon Rigby as Chief Cyber Officer, reporting to Peter Smith, Executive Underwriting Officer. His appointment is effective immediately and in his new role, Rigby, a cyber security expert, will be based in London. For more than 33 years he served in ... Read the full article
Liberty Specialty Markets appoints Steve McMurray CFO
10th June 2019
Liberty Specialty Markets, a division of Liberty Mutual Insurance Group, has named Steve McMurray as its new Chief Financial Officer (CFO), effective immediately. Prior to joining Liberty Specialty Markets, McMurray was CFO for global brokerage BGC Partners Inc. He brings extensive experience across multiple industries to the role, and previously spent ... Read the full article
Liberty Specialty appoints new Claims Manager for Energy, Property and Construction
9th May 2019
Gavin Coley has joined Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, as Claims Manager - Energy, Property and Construction, effective immediately. Coley joins LSM from Neon Underwriting, where he was Technical Head of Claims for two years, contributing to the delivery and implementation of the company's claims ... Read the full article
Liberty Mutual elects Jay Hooley to Board of Directors
23rd April 2019
Liberty Mutual Insurance has announced that Jay Hooley has been elected to the company’s Board of Directors. Hooley is the Chairman and former Chief Executive Officer (CEO) of State Street Corporation, the U.S financial services and bank holding company. As former CEO of State Street, Hooley was responsible for leading a company ... Read the full article
Silvestre promoted to Deputy General Manager for France, Liberty Specialty Markets
18th April 2019
A division of Liberty Mutual Insurance Group, Liberty Specialty Markets has announced the promotion of Emmanuel Silvestre to Deputy General Manager of its French business. Silvestre will be based in Paris and will report to General Manager for France, Richard Deguettes. He will also retain his responsibilities as Continental Europe Underwriting ... Read the full article
Liberty Mutual acquires AmTrust’s global surety and credit reinsurance operations
15th April 2019
Liberty Mutual Insurance is to acquire the global surety and credit reinsurance operations of AmTrust Financial Services, Inc., subject to regulatory approvals and customary closing conditions. The definitive agreement between the two firms sees Liberty Mutual Insurance acquire four AmTrust businesses: AmTrust Surety; AmTrust Insurance Span; Nationale Borg; and Nationale Borg ... Read the full article
Liberty Mutual adds Janelle Edem as Chief of Staff
9th April 2019
U.S primary insurer Liberty Mutual has announced the appointment of Janelle Edem as Chief of Staff, Global Risk Solutions (GRS). Edem will report to the President of GRS Dennis Langwell and be tasked with organising and driving forward critical strategic issues to facilitate efficient decision making for the unit’s executive office. GRS ... Read the full article
Pembroke & Ironshore sale removes business overlap, says Liberty Mutual
18th March 2019
Liberty Mutual has said that its decision to sell Pembroke Managing Agency Limited and Ironshore Europe DAC (IEDAC) to Hamilton Insurance Group, Ltd. will remove business overlap resulting from its 2017 acquisition of Ironshore. The transaction, which was announced on March 14, will see Hamilton take over the Pembroke platform ... Read the full article
Liberty Mutual Re hires Uwe Haug from Hannover Re
7th January 2019
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Uwe Haug as Head of Underwriting Strategy and Business Development for its global financial risks reinsurance business. Haug spent the previous two decades at Hannover Re, most recently leading its global specialty portfolio as General Manager for Northern, ... Read the full article
Liberty Mutual restructures excess casualty operations, increases capacity
22nd November 2018
U.S primary insurer Liberty Mutual Insurance has realigned its excess casualty operations and increased its capacity for the business to $100 million. Effective from 1 January 2019, the company’s excess casualty capabilities will benefit from dedicated underwriting teams on both an admitted and excess and surplus (E&S) basis. All admitted excess casualty ... Read the full article
Liberty Mutual partners with OPIC on $1bn investment program
14th November 2018
Liberty Mutual Insurance has partnered with the Overseas Private Investment Corporation (OPIC), the U.S government’s development finance institution, on the launch of a $1 billion risk-sharing agreement to facilitate private sector investment in developing markets. This partnership represents OPIC’s first agreement with a U.S owned insurance company to share credit risk ... Read the full article
Liberty Mutual announces strategic review of Pembroke unit
18th October 2018
Liberty Mutual Insurance has announced that it plans to conduct a strategic review of its subsidiary Pembroke Managing Agency Limited, which it acquired through the purchase of Ironshore in May 2017. The company said that it had retained investment banking firm Evercore to serve as its adviser through the process, ... Read the full article
Liberty Mutual launches financial risk solutions unit
11th October 2018
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 ... Read the full article
Liberty Specialty names Head of Underwriting, Delegated Authority, Specialty lines
14th September 2018
Liberty Specialty Markets, a division of Liberty Mutual Insurance Group, has announced the hiring of Lewis Edwards as Head of Underwriting, Delegated Authority for Specialty lines. Edwards joins the firm on September 17th, 2018 and will report to Liberty Specialty Market's Chief Underwriting Officer (CUO), Specialty, Mike Gosselin. In his new role, ... Read the full article
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