Reinsurance News
Liberty Mutual
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
International Captive Exchange becomes MGU for Liberty Mutual
11th January 2023
International Captive Exchange (ICE), a Health In Tech, Inc. company, has entered into an agreement to serve as the Managing General Underwriting (MGU) for Liberty Mutual Insurance in a program providing employer stop-loss insurance. Under the agreement, ICE will solicit, underwrite, bind, and issue such policies on behalf of Liberty Mutual. Tim ... Read the full article
Liberty Mutual appoints Maria Grace as global product leader for property
29th November 2022
Liberty Mutual Insurance has appointed Maria Grace as its global product leader for property. Grace is set to begin in the role at the beginning of January and will report to Matthew Moore, Global Risk Solutions (GRS) president of underwriting. She will be responsible for the profit and loss of property ... Read the full article
Liberty Mutual Re promotes Gilardi to Head of International Treaty Casualty
25th November 2022
Liberty Mutual Reinsurance has promoted Vincent Gilardi to Head of International Treaty Casualty. Within this role, Gilardi will lead all casualty reinsurance international business for Liberty Mutual Re Gilardi joined Liberty Mutual Re in 2019 where he was appointed as a Senior Underwriter for International Casualty. Prior to joining Liberty Mutual Re, Gilardi ... Read the full article
Liberty Mutual considers $1bn sale of Europe business
25th November 2022
US insurer, Liberty Mutual Holding Company (LMHC), is exploring a sale of its businesses in Spain, Portugal and Ireland, according to Bloomberg News sources. People familiar with the matter - who have asked not to be identified as discussions are private - have revealed that LMHC is working with Bank of ... Read the full article
Liberty Mutual appoints Rachel Conran as CUO of LSM
21st November 2022
Rachel Conran is set to take over as Liberty Specialty Markets' (LSM) new Chief Underwriting Officer (CUO) on January 1st, 2023. Based in Cologne, Germany, she will be responsible for underwriting performance across the business. The appointment was announced today by Liberty Mutual Insurance's Global Risk Solutions (GRS) unit. In her new ... Read the full article
Liberty Mutual hires Gosselin as Global Leader, Energy & Transition Risk
15th November 2022
Liberty Mutual Insurance has appointed Mike Gosselin as Global Leader, Energy & Transition Risk, where he will report to Global Risk Solutions President, Insurance Solutions, Elizabeth Geary. Based in London, Gosselin brings more than 25 years of global underwriting experience in the energy sector, including 21 years at Liberty Specialty Markets ... Read the full article
Liberty Mutual reports net loss of $353m in Q3
3rd November 2022
Liberty Mutual Holding Company (LMHC), along with its subsidiaries, has said that elevated catastrophe losses and volatility within the investment markets has driven a net loss of $353m to the firm in Q3 2022. In releasing its result, the company said that pre-tax net catastrophe losses in the quarter were $1.4bn, ... Read the full article
Liberty Specialty Markets launches new project cargo consortium at Lloyd’s
12th October 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, has announced the launch of a new Lloyd’s facility for the London Market – the Liberty Project Cargo Consortium (LPCC), to underwrite global project-related cargo risks. The facility, Consortium 7763, offers capacity to underwrite risks up to $205 ... Read the full article
Liberty Mutual announces changes to dual-channel speciality and E&S distribution strategy in US
9th September 2022
Liberty Mutual Insurance has announced changes to its dual-channel distribution strategy for specialty and excess & surplus (E&S) insurance solutions. The changes are set to improve business operations and better serve retail and wholesale brokers in efforts to meet the changing and increasingly complex and interconnected needs of businesses, says Liberty ... Read the full article
Liberty Mutual Insurance hires Smith as President, GRS North America
23rd August 2022
Liberty Mutual Insurance has appointed Kevin Smith as President of Global Risk Solutions (GRS) North America, where he will report to GRS President, Neeti Bhalla Johnson Within this new role, Smith will be accountable for delivering GRS North America's financial and operational performance, which includes commercial and specialty businesses in the US, Canada and Bermuda and operates across ... Read the full article
Liberty Mutual joins MIT’s Climate and Sustainability Consortium
3rd August 2022
Liberty Mutual Insurance has announced its membership to the MIT Climate and Sustainability Consortium (MCSC), supporting the acceleration and implementation of large-scale, real-world solutions to address climate change. Liberty Mutual now joins 17 other member companies in the Consortium’s efforts to inspire transformative climate progress across industries and the globe. Francis Hyatt, ... Read the full article
LSM promotes Paul Seip to Underwriting Manager, Benelux Fine Art & Specie
2nd August 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the promotion of Paul Seip from Senior Fine Art Underwriter to Underwriting Manager, Benelux Fine Art & Specie. LSM made the announcement today on LinkedIn congratulating Seip on his promotion, adding that this “reflects the deep technical knowledge and ... Read the full article
Liberty Mutual acquires AmGeneral
29th July 2022
Liberty Mutual Insurance has completed its acquisition of Malaysian insurer AmGeneral, following regulatory approval and signing a purchase and sale agreement with AmBank. The merged entity will enter into an exclusive 20-year partnership with AmBank to distribute general insurance products. Subsequently, AmGeneral and Liberty Insurance Berhad operations will merge, and ... Read the full article
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