Liberty Mutual Group’s Edmund F. Kelly, 65, will retire from active management of the company on June 28. David H. Long, 50, will replace Kelly and will become president and CEO effective June 29, 2011.
Kelly will continue to serve as chairman of the board of Liberty Mutual Holding Co.
Long has served in various leadership positions at Liberty Mutual over his 25-year career with the company. Most recently he was elected president in June 2010. Prior to that, he was president of Liberty International, a position he assumed in January of 2009. Other positions at Liberty Mutual included serving as president, Commercial Markets, and as chief operating officer in National Market.
Long was also a founding member of what is now Liberty Mutual Agency Corp., where he was actively involved in the acquisitions of Golden Eagle, Summit, Peerless Insurance, Indiana Insurance and Colorado Casualty. Long began his career at Liberty Mutual in 1985 as a financial analyst in National Accounts. Long earned a B.A. degree in mathematics from Hartwick College in 1983 and a M.S. in finance from Boston College in 1989.
Kelly joined Liberty Mutual in 1992 as president and chief operating officer, and was elected CEO in 1998. He was elected as chairman of Liberty Mutual Group in April 2000. Kelly is also a member of the board of governors of the Property Casualty Insurers Association of America; a member of the boards of The Bank of New York Mellon Corporation, the EMC Corp., the American Ireland Fund, the Insurance Information Institute; and he serves on various other community and education boards. In addition, he is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries. Born in Ireland, Kelly graduated from Queen’s University in Belfast and obtained his Ph.D. in mathematics at Massachusetts Institute of Technology.
Boston-based Liberty Mutual Group is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on A.M. Best Co.’s report of 2010 net written premium. The Group also ranks 82nd on the Fortune 100 list of largest corporations in the U.S. based on 2010 revenue. As of Dec. 31, 2010, Liberty Mutual Group had $112.4 billion in consolidated assets, $95.4 billion in consolidated liabilities, and $33.2 billion in annual consolidated revenue.
Source: Liberty Mutual Group
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