Liberty Mutual Group News

The Strategy Behind Hamilton Insurance’s Move to Buy Pembroke, Ironshore Europe

Strategy plus some remarkably good timing helped lead to Hamilton Insurance Group’s first acquisition deal under the leadership of CEO Pina Albo. On March 14, Hamilton announced it would acquire Liberty Mutual’s Pembroke Managing Agency at Lloyd’s and its Ironshore …

Hamilton to Buy Pembroke Managing Agency, Ironshore Europe DAC from Liberty Mutual

Hamilton Insurance Group Ltd., the Bermuda-based holding company of re/insurance operations in Bermuda and at Lloyd’s, announced it has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency Ltd. platform at Lloyd’s and Ironshore Europe …

Liberty Mutual Taps Kelly, Dolan for Key Posts

Liberty Mutual announced that Shaun E. Kelly has been named president of Distribution for Global Risk Solutions (GRS). In this role, Kelly will lead distribution and marketing of the unit’s diversified commercial and specialty insurance and reinsurance product portfolio. Kelly …

Financial Strength Rating Remain Unchanged for Liberty Mutual: A.M. Best

The financial strength rating of A (Excellent) and the issuer credit ratings (ICR) of “a” for members of Liberty Mutual Insurance Companies (Liberty Mutual), as well as Liberty Mutual Insurance Europe Limited (LMIE) (United Kingdom) and Liberty Life Assurance Company …

S&P Raises Liberty Mutual’s Ratings; Outlook Revised to Stable on NICO Deal

Standard & Poor’s Ratings Services announced that it has raised its ratings on Liberty Mutual Insurance Co. to ‘A/A-1’ from ‘A-/A-2’, as well as its ratings on parent company Liberty Mutual Group Inc. to ‘BBB’ from ‘BBB-‘, and its ratings …

Liberty Mutual Group to Buy Rest of Irish Unit from IBRC

Liberty Mutual Group Inc. said it will buy the 49 percent stake in the former Quinn Insurance Ltd. in Ireland that it doesn’t already own from failed lender Irish Bank Resolution Corp. The company didn’t disclose financial terms. Liberty, based …

Liberty Mutual’s 2012 Profit Jumps 132% to $829M Despite Q4 Net Loss

Liberty Mutual and its subsidiaries today reported 2012 fourth-quarter net loss of $234 million, with the results including $576 million Superstorm Sandy losses. In comparison, the Boston-headquartered insurer had $285 million profit during the 2011 fourth quarter. But the latest …

Liberty Mutual to Phase Out 8 Regional Insurance Brands

Liberty Mutual Insurance announced it is planning to retire its regional brands in 2013 to focus on the more recognizable Liberty Mutual brand. “We’re retiring the brand names of our eight commercial lines regional companies that sell exclusively through independent …

Liberty Mutual Posts $284M Q4 Income; $365M Profit for Full Year

Liberty Mutual Group reported $284 million in net profit for 2011 fourth quarter — down 50.7 percent compared to the same period one year ago. The insurer said the quarterly operating results were hurt especially by losses from Thailand floods. …