Reinsurance News
Liberty Mutual
Liberty Mutual reports flat Q3, secures ADC with Berkshire’s NICO
7th November 2019
Liberty Mutual Holding Company Inc. and its subsidiaries produced net income from continuing operations of $274 million for the third-quarter of 2019, while the firm also announced a new adverse development cover (ADC) arrangement with Berkshire Hathaway's National Indemnity Company (NICO). For the first nine months of the year, Liberty Mutual's ... Read the full article
State Farm & Berkshire maintain status as top US P&C insurers
24th October 2019
State Farm and Berkshire Hathaway Specialty Insurance maintained their spots as the largest and second-largest U.S. Property and Casualty (P&C) writers in 2018, respectively, while Chubb INA Group entered the top ten. This is according to the Reinsurance News directory of the Top 100 U.S. P&C ... Read the full article
Liberty Mutual unit bolsters leadership team with CUO hires
22nd August 2019
US primary insurer Liberty Mutual has announced the appointments of Jon Tellekamp as Chief Underwriting Officer for National Insurance, Excess Casualty, and Doug Manwaring as CUO of National Insurance, Public Entities and Programs. Tellekamp, who has served at Liberty Mutual since 2005, has had roles of increasing responsibility in the energy ... Read the full article
Liberty adds Aon’s Douglas Schrift as CUO of SDI offering
20th August 2019
Liberty Mutual Surety, a business unit of US primary insurer Liberty Mutual, has appointed Douglas Schrift to develop the firm’s Subcontractor Default Insurance (SDI) offering as Chief Underwriting Officer. Schrift joins from Aon’s Construction Services Group SDI practice, where he served as Managing Director. Prior to that, he served as Vice President ... Read the full article
Liberty GTS names Jugdeep Singh as Head of Tax
14th August 2019
Liberty Global Transaction Solutions (GTS), a global, stand-alone unit of Liberty Mutual Insurance, has named Jugdeep Singh as Head of Tax, based in London. Singh will manage Liberty GTS' international tax liability insurance team for tax risks related to merger and acquisition (M&A) transactions, restructurings and other bespoke situations across the ... Read the full article
$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 Mutual completes latest Limestone Re transaction
2nd July 2019
Liberty Mutual has announced the successful renewal of its expiring Limestone Re 2018-1 placement, securing $240 million of reinsurance capacity from the capital markets for its U.S. property catastrophe program and global treaty property reinsurance business. The new transaction, which utilises the Limestone Re capital markets platform, is comprised of $135 ... Read the full article
Liberty partners with Edge Case Research on autonomous vehicle tech
14th June 2019
Liberty Mutual Insurance has announced an investment and new strategic partnership with Edge Case Research, a firm that helps companies go to market with autonomous vehicle technologies and services. Liberty Mutual's venture capital arm, Liberty Mutual Strategic Ventures, participated in the recent seed financing of the firm, which was established by ... Read the full article
Liberty Mutual completes takeover of AmTrust’s U.S. surety operations
3rd June 2019
Liberty Mutual Insurance has completed its previously announced acquisition of AmTrust Financial Services' U.S. surety operations, AmTrust Surety, following the completion of customary closing conditions. Liberty Mutual announced in April of this year that it's acquiring the global surety and credit reinsurance operations of AmTrust Financial Services, which is comprised ... Read the full article
Liberty Mutual promotes Orloff to GM of field distribution for GRS unit
16th May 2019
US primary insurer Liberty Mutual has announced the promotion of Marc Orloff to the newly-created position of General Manager, Field Distribution for its Global Risk Solutions (GRS) unit. GRS focuses on core P&C lines for mid-to-large businesses, as well as specialty, excess and reinsurance. The appointment will see Orloff report to Shaun ... Read the full article
Liberty Specialty promotes Paul Sankey to Global Head of Oil & Gas
19th March 2019
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has named Paul Sankey as its new Global Head of Oil & Gas, in addition to his role as Head of the Energy & Construction teams in London. The promotion of Sankey, who has been with Liberty for 14 years, ... Read the full article
Hamilton acquires Pembroke and Ironshore Europe from Liberty Mutual
14th March 2019
Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd. has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency Limited platform at Lloyd's, and also Ironshore Europe DAC (IEDAC). The transaction is expected to close later in 2019, and once completed, sees Hamilton almost double its total ... Read the full article
Aspen bolsters London cyber team with addition of Liberty’s Watson
19th February 2019
Aspen Insurance’s cyber team in London is to add Amie Watson as an Underwriter in May. Watson will join from Liberty Specialty Market where she currently serves as a Cyber & Tech Underwriter. Aspen’s London cyber team is headed by Mauro Signorelli, Senior Underwriter, Technology Liability & Cyber Risk Insurance. “Cyber insurance is ... Read the full article
Ironshore makes exec appointments to oversee U.S programs unit
4th February 2019
Ironshore Specialty Casualty has announced the appointment of Casey Hartley as Senior Vice President, Head of Programs, as well as Tracey Sharis, Senior Vice President, who becomes Director of Programs. Hartley will oversee the development, marketing and distribution of programs lines, working with programs administrators across Ironshore’s underwriting platforms in the ... Read the full article
Liberty Mutual Re adds international casualty underwriter to Paris office
17th January 2019
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Vincent Gilardi as Senior Underwriter for International Casualty, effective immediately. Based in the company's Paris office, Gilardi reports to the reinsurer's Head of Europe and MENA, Eric Sugier. He joins the firm from XL Catlin, where he served as ... Read the full article