LIberty Mutual News

Liberty Mutual to Acquire AmTrust’s Surety, Credit Reinsurance Business

Liberty Mutual Insurance said it has agreed to acquire the global surety and credit reinsurance operations of property/casualty insurer AmTrust Financial Services. Terms of the deal were not disclosed. Upon closing, Liberty Mutual will acquire four AmTrust businesses: AmTrust Surety, …

Liberty Mutual Names Edem as Chief of Staff for Global Risk Solutions

Liberty Mutual has appointed Janelle Edem to be chief of staff for its Global Risk Solutions (GRS) commercial and specialty lines (re)insurer that provides traditional insurance, specialty and reinsurance to businesses globally. Most recently, Edem served as general manager, UPS …

Liberty Mutual Boosted Q4, 2018 Profit Helped by Lower Catastrophe Losses

Liberty Mutual Holding Co. and its subsidiaries reported net income of $249 million for the fourth quarter 2018 and $2.160 billion for the full year 2018, increases of $44 million and $2.143 billion over the same periods in 2017. Catastrophe …

Allianz, Generali & Liberty Mutual Vying to Invest in BBVA Bancassurance Arm: Sources

European insurers Allianz and Generali are vying with U.S. rival Liberty Mutual to invest in the bancassurance business of Spanish lender BBVA, four sources familiar with the matter told Reuters. The sale, led by Bank of America, kicked off towards …

Liberty Mutual Again Taps Capital Markets Via Reinsurance Sidecar, Limestone Re

Liberty Mutual has once again directly tapped capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. Limestone Re provides approximately $150 million of collateralized reinsurance capacity for Liberty’s U.S. property catastrophe program, as well as its …

UK Watchdog’s Fines Against Insurers, Banks Drop by 75% in 2018

The total value of fines handed out by the U.K.’s Financial Conduct Authority fell by almost 75 percent in 2018, after a bumper year in which it had secured penalties against the likes of Deutsche Bank AG, Merrill Lynch International …

Liberty Mutual Forms $1B Risk-Sharing Deal with OPIC, Expanding Public Sector Portfolio

Liberty Mutual Insurance has formed a $1 billion risk-sharing agreement with the Overseas Private Investment Corp. (OPIC), the U.S. government’s development finance institution, which furthers the company’s diversification strategy in a market when organic growth is hard to find. The …

Update: Liberty Mutual Conducts Strategic Review of Pembroke Managing Agency

Liberty Mutual Insurance announced it is undertaking a strategic review of its London-based Pembroke Managing Agency Ltd., acquired through the lronshore purchase in May of 2017. The company has retained Evercore to serve as its adviser during the process. A …

Top 10 Causes of Serious Workplace Injuries: Liberty Mutual Index

The U.S. workplace is getting safer but the cost of the most serious workplace injuries is rising, according to the findings of the most recent Liberty Mutual Workplace Safety Index. The number of the most serious workplace injuries and illnesses …

Liberty Mutual Launches New Umbrella, Contractor’s Equipment Policies

Liberty Mutual has introduced two new policy forms – umbrella and contractor’s equipment – designed to make it easier for brokers to meet a broader set of coverage needs for their customers. Liberty Mutual’s new, simplified umbrella form offers broader …