Reinsurance News
Liberty Mutual
Generali completes acquisition of Liberty Seguros
2nd February 2024
Italy-headquartered insurer Generali has completed the acquisition of Liberty Seguros, Compañia de Seguros y Reaseguros, S.A., from Liberty Mutual Insurance The transaction was originally announced on June 15, 2023, and it represents Generali's largest transaction in ten years. It was reported that Liberty Mutual would sell its personal lines and small ... Read the full article
Liberty Mutual sees $219 million net income in Q3’23
9th November 2023
Liberty Mutual Holding Company and its subsidiaries (LMHC) have reported their results for the three and nine months ended September 30, 2023, posting a net income attributable to LMHC of $219 million and loss of $441 million for Q3'23 & 9M'23, compared to net loss’ attributable to LMHC of $353 ... Read the full article
Liberty Mutual Re appoints Alex Koh as Senior Underwriter
11th October 2023
Liberty Mutual Reinsurance, a subsidiary of Liberty Mutual Insurance Group, has appointed Alex Koh as Senior Underwriter, effective immediately, based in Singapore and reporting to Annie Leong, Regional Underwriting Manager. Koh’s remit in the role will include being responsible for maintaining and expanding the company’s existing reinsurance portfolio in the region. Leong ... Read the full article
Liberty Mutual sees $585m net loss in Q2, cat losses more than double to $2.27 billion
10th August 2023
Liberty Mutual Holding Company and its subsidiaries (LMHC) have reported their results for the second quarter of 2023 and the first half of 2023, posting a net loss attributable to LMHC of $585 million and $660 million for Q223 & H123, compared to net loss' attributable to LMHC of $343 ... Read the full article
Senate Budget Committee launches investigation into insurance companies’ climate risk evaluation, fossil fuel support
12th June 2023
The Senate Budget Committee, led by Senator Whitehouse (D-RI), alongside Senators Wyden (D-OR) and Sanders (I-VT), initiated an investigation into the evaluation of climate-related risks by major U.S. insurance companies. The committee seeks to understand why these companies continue to support and underwrite fossil fuel expansion projects that contribute to climate ... Read the full article
Talanx Group to acquire LatAm businesses of Liberty Mutual in €1.38bn deal
30th May 2023
Germany’s Talanx Group is set to become the third-largest P&C insurer in Latin America after acquiring a number of Liberty Mutual’s businesses in Brazil, Chile, Colombia, and Ecuador, through its subsidiary HDI International. The purchase price is expected to be around €1.38 billion at the closing date of the transaction, which ... 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
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