LIberty Mutual News

Teens Know Drinking, Texting Risks But Don’t Always Drive Like They Do

From drinking or texting while driving to using a designated driver, there is a disconnect between what teenagers acknowledge as risky behavior and what they actually admit to doing behind the wheel, according to a survey from Liberty Mutual Insurance …

Liberty Mutual Swings to Profit; 2013 Full-Year Income Rises 110% to $1.74B

Liberty Mutual Holding Company Inc. and its subsidiaries today reported net income of $496 million for its 2013 fourth quarter, improving from a net loss of $234 million during the prior-year fourth quarter. The insurer benefited from stronger revenues and …

Liberty Mutual Entering Malaysia with $113 Million Acquisition

Liberty Mutual Insurance Group in Boston announced the company’s entry into Malaysia’s $4.6 billion non-life insurance market with its planned acquisition of a 68.9 percent stake in Uni.Asia General Insurance Berhad for approximately $113 million. The transaction is subject to …

Liberty Mutual Selling Workers’ Comp Unit Summit Southeast to American Financial

Liberty Mutual Insurance said it has agreed to sell Summit Holdings Southeast Inc. and its related companies to American Financial Group (AFG) in an all-cash transaction valued at $250 million. Based in Lakeland, Florida, Summit sells workers’ compensation in the …

Liberty Mutual Launches Foreign Package Policy for U.S. Companies

Liberty Mutual’s Commercial Insurance strategic business unit has expanded its foreign package policy offering by introducing a new product, and by adding a new global crisis management endorsement. The new Global Concierge Plus product provides up to $25 million in …

Liberty Mutual Q3 Up 3.4% to $481M; Core Underwriting Results Improved

Liberty Mutual Holding Co. Inc. today reported net income of $481 million for its 2013 third quarter, a 3.4 percent jump from $465 million profit reported one year ago, reflecting improved core underwriting results. “The third quarter reflected a continuation …

Liberty Mutual’s Commercial Insurance Unit Names VP for East Division

Liberty Mutual Insurance’s Commercial Insurance strategic business unit has appointed Thomas J. Kelley as vice president and managing director for the East division. Based in Philadelphia, Kelley is responsible for working with brokers to help large companies throughout the mid-Atlantic …

Liberty Mutual Commercial Unit Names Martin to Head National Property

Liberty Mutual Insurance’s Commercial Insurance strategic business unit has appointed Mike Martin as executive vice president and general manager, National Insurance Property. Martin will lead a unit that provides property insurance, inland marine and equipment breakdown products to mid-sized and …

Best Affirms Liberty Mutual and Subs Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” for the members of Liberty Mutual Insurance Companies, as well as UK-based Liberty Mutual Insurance Europe Limited (LMIE) and Liberty …

Liberty Mutual Q2 Net Income More Than Triples to $448M

Liberty Mutual Holding Co. Inc. posted $448 million net income for its 2013 second quarter, a 222 percent jump from $139 million net income posted during the same quarter last year. The company benefited from lower catastrophe losses and improved …