Reinsurance News
Liberty Mutual
Liberty Mutual reports $769mn Q2 net income
5th August 2021
Liberty Mutual Holding Company and its subsidiaries have reported a second quarter net income of $769 million, against a net loss of $320 million registered in the prior year quarter. The quarter's results are said to have benefited from continued strong performance within the company’s investment portfolio, which generated $1.4 billion ... Read the full article
Liberty Mutual makes $2.30bn move for State Auto Group
12th July 2021
Liberty Mutual is preparing to acquire super-regional insurance holding company State Auto Group in a cash deal that values the company at roughly $2.30 billion, or $52 per share. The acquisition will significantly expand Liberty Mutual's position in the personal lines and small commercial insurance space. Through the deal, Liberty Mutual will ... Read the full article
Liberty Mutual’s net income rises by 65% despite $1bn of catastrophe losses
7th May 2021
Liberty Mutual Holding Company Inc. and its subsidiaries has reported an almost 65% rise in net income, year-on-year, to $856 million for the first quarter of the year, despite elevated catastrophe losses. During Q1, the firm's partnership, LLC and other equity method investment portfolio generated $838 million in pre-tax operating ... Read the full article
Liberty Mutual appoints Wesley Hyatt as Chief Client Officer
8th March 2021
Liberty Mutual Insurance has appointed Wesley Hyatt as Chief Client Officer of its Global Risk Solutions (GRS) division. Hyatt will be responsible for the leadership of the Client Executive team whilst also overseeing the US Client Service team, which provides day-to-day service support for large domestic policyholders and their brokers. Hyatt has ... Read the full article
Liberty Mutual posts Q4 net income of $162mn
24th February 2021
US primary insurer Liberty Mutual has reported a fourth quarter net income of $162 million, up from the $301 million loss posted in the prior year period. Net written premiums during Q4 topped $10.095 billion, an increase of $344 million over the same period in 2019. The consolidated combined ratio before catastrophes ... Read the full article
Liberty (LSM) launches terrorism coverage for SME sector in Germany
20th January 2021
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has announced the launch of a new terrorism insurance coverage designed specifically for the SME sector in Germany. LSM entered the marketplace in 2018 as part of its strategy to extend its reach in Europe, and since then, business written ... 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 leverage CoreLogic’s property estimation platform
19th October 2020
Catastrophe risk modeller CoreLogic has announced the addition of Liberty Mutual Insurance to the list of companies leveraging its cloud-based property estimation platform. The deal will see Liberty Mutual migrate to CoreLogic’s cloud-based insurance hub. The hub uses an open architecture and and API framework designed to make it easy for Liberty ... Read the full article
Liberty Mutual appoints head of field operations for GRS North America
16th September 2020
Liberty Mutual has announced the appointment of Marc Orloff as President of North American Field Operations for Global Risk Solutions (GRS) North America. Orloff previously led Liberty Mutual's GRS field distribution team, which includes retail and wholesale field organizations, national broker management, and private equity and construction practices. He will continue to ... Read the full article
Liberty Mutual and SafeButler partner to offer instant renters insurance
11th September 2020
Liberty Mutual has partnered with insurance comparison site SafeButler to provide instant access to comprehensive renters insurance plans. Liberty Mutual's API has been integrated into SafeButler's website and will instantly return a guaranteed renters insurance quote that will remain valid for 30 days. The coverage and cost to the consumer are no ... Read the full article
Liberty Specialty Markets adds two underwriters to Casualty team
25th August 2020
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has announced the appointments of Jonathan Powell and David Bramall as underwriters within its Casualty team, effective immediately. Powell joins LSM as Senior Underwriter for the US book of business, and will report to Phil Stephenson, Senior Underwriter, Excess Casualty. He ... Read the full article
Climate data start-up Jupiter raises capital from Liberty Mutual, MS&AD
3rd August 2020
Jupiter, a provider of predictive data and analytics for climate risk, has raised additional capital from P&C insurers Liberty Mutual and MS&AD, as well as from SYSTEMIQ, which specialises in sustainable economic systems. Jupiter plans to use the new capital to fuel the expansion of its operations and increase product development. "In ... Read the full article
SRL makes rating adjustments for Lloyd’s syndicates 4472, 2003
27th July 2020
Syndicate Research Limited (SRL) has provided rating adjustments for Liberty Mutual-owned Lloyd’s syndicate 4472 and AXA’s syndicate 2003. Syndicate 4472 is ultimately 100% backed by Liberty Mutual and with a 2020 capacity of £1.1bn, writes an Excess of Loss-orientated account. SRL has affirmed the syndicate’s B+^ (Above Average) Continuity Opinion, while its ... Read the full article
Liberty Mutual appoints Janelle Edem SVP, Global Risk Solutions
13th July 2020
U.S primary insurer Liberty Mutual has announced the appointment of Janelle Edem Senior Vice President of Global Risk Solutions (GRS), its global commercial and specialty lines re/insurer. Reporting to GRS President Dennis Langwell, Edem will lead GRS’ strategic planning and process excellence work. She will also continue to serve as GRS Chief ... Read the full article
Liberty Specialty Markets appoints Casualty Manager for Continental Europe
16th April 2020
Liberty Specialty Markets, a division of Liberty Mutual Insurance Group, has announced the appointment of Katja Bobrowski to the newly created position of Casualty Manager, Continental Europe. Based in Cologne, Bobrowski will report to Head of Liberty Specialty Markets Central Region, Kadidja Sinz. In her new role, she takes responsibility for developing ... Read the full article
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