LIberty Mutual News

Liberty Mutual Completes $240 Million Limestone Re Transaction

For the fourth time, Liberty Mutual has utilized capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. The Boston-based insurer said it has completed a new transaction utilizing the Limestone Re capital markets platform that provides …

Poll: Majority of Americans Say Global Warming is Affecting U.S. Weather

The majority of Americans say global warming is important to them, and that it’s affecting the weather in the U.S. A national survey by the Yale Program on Climate Change Communication and the George Mason University Center for Climate Change …

Georgia Court: Insurer Can’t Deny Coverage Despite Misinformation on Application

An insurer that extended its workers’ compensation coverage for 90 days after discovering the employer had violated the terms of its policy could not then deny coverage for a claim on the grounds that those terms had been violated, the …

Liberty Mutual Teams with MIT on Artificial Intelligence Research

The Massachusetts Institute of Technology (MIT) and Liberty Mutual Insurance announced a $25 million, five-year collaboration to support artificial intelligence (AI) research in computer vision, computer language understanding, data privacy and security, and risk-aware decision making, among other topics. The …

Tesla to Create Own Insurance Product, Says Musk

For the second time in three days, Elon Musk has shed light on how Tesla Inc. plans to take on massive industries outside the automotive and clean-energy realms. Tesla’s chief executive officer said during Tesla’s earnings call Wednesday that the …

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 …