Reinsurance News
Liberty Mutual
Marsh launches ESG risk assessment tool
22nd March 2022
Insurance and reinsurance broker Marsh has launched its Environmental, Social, and Governance (ESG) Risk Rating, an assessment tool that can measure an organisation’s ESG performance, enabling them to improve their ESG risks, and gain access to additional insurance market capacity. The rating tool can assess against more than 10 internationally recognised ... Read the full article
Keystone appoints Sandeep Gupta as Chief Operating Officer
17th March 2022
Independent insurance agency partnership platform, Keystone Agency Partners has named Sandeep Gupta to the role of Chief Operating Officer, who joins from Liberty Mutual Group where he was Senior Vice President & General Manager of Strategic Partnerships for six years. The new job role will see Gupta working collaboratively with the ... Read the full article
Liberty Mutual completes acquisition of State Auto Group
4th March 2022
Liberty Mutual has completed the acquisition of State Auto Group, a super-regional property and casualty insurance holding company headquartered in Columbus, Ohio. State Auto distributes personal and small commercial coverages in 33 states through approximately 3,400 independent agents. The company has confirmed that over 2,000 State Auto employees will join Liberty ... Read the full article
Liberty Mutual reports 10.1% increase in yearly revenues
24th February 2022
Liberty Mutual Holding Company has reported a 10.1% increase in its total revenues between FY 2020 and FY 2021. The firm, in posting its results, said that its revenues in 2021 were $48,200m, up from $43,796m the year before. However, revenues in Q4 2021 were only 3.6% higher than they had ... Read the full article
Liberty Mutual names Damon Hart as EVP
14th December 2021
Liberty Mutual Insurance has appointed Damon Hart as Executive Vice President and Chief Legal Officer. Hart succeeds Jim Kelleher, who announced he will retire at the end of this year. Previously, Hart was promoted to Deputy Chief Legal Officer in 2020 and prior to this, served as Senior Vice President and ... Read the full article
Liberty Mutual Q3 income up 81.6% to $721m
4th November 2021
Liberty Mutual Holding Company has reported net income of $721 million for the third quarter of 2021, a figure that is 81.6% higher than was recorded in the same period last year. Looking at the first nine months of the year, net income totaled $2.35 billion, versus just $596 million for ... Read the full article
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
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