Reinsurance News
Liberty Mutual
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
Liberty Mutual Insurance names Hart EVP, Chief Legal Officer & Secretary
15th June 2022
Liberty Mutual Insurance Chairman and Chief Executive Officer (CEO), David Long has announced that effective as of January 2023, Damon Hart has been named Secretary, in addition to his current role as Executive Vice President and Chief Legal Officer. As Secretary, Hart will be overseeing governance for the company's Board of ... Read the full article
David H. Long to retire from Liberty Mutual and be replaced by Timothy M. Sweeney
10th June 2022
Liberty Mutual Insurance has said that chairman and CEO David H. Long will retire at the end of 2022 and will be replaced by Timothy M. Sweeney. Following his retirement, Long will serve as the company’s executive chairman on its board of directors. He has been at Liberty Mutual for 37 ... Read the full article
Liberty Mutual Insurance sees net income plunge $358m in Q1 2022
5th May 2022
Liberty Mutual Insurance has reported net income of $498m for Q1 2022, down from $856m in the same period in 2021. David H. Long, chairman and CEO of the firm, acknowledged the fall directly in a statement, blaming market uncertainties brought by macroeconomic and geopolitical headwinds. He said that the firm ... Read the full article
Liberty Mutual Insurance expands leadership team
29th April 2022
Liberty Mutual Insurance’s Global Risk Solutions (GRS) President, Neeti Bhalla Johnson recently announced the appointments of two newly created global executive leadership positions. Matthew Moore has been appointed President of Underwriting, and Susanne Figueredo Cook has been appointed as Chief Operating Officer. Phil Hobbs was also appointed as President of Liberty Specialty ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
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