Liberty’s $50mn Limestone Re BSX trade part of larger ILS placementLiberty Mutual’s listing of $50mn of Limestone Re notes on the Bermuda Stock Exchange last week was part of a large placement with ILS partners as the giant carrier continues to use its sidecar structure to offload risk to alternative capital investors.
Liberty Mutual appoints PE & MA practice leaderLiberty Mutual Insurance has promoted Amy Gross to the newly created role of practice leader, private equity and mergers & acquisitions.
Farmers is biggest beneficiary of James River’s Uber withdrawalFarmers has substantially increased its Uber exposure after the US personal lines giant picked up the bulk of the states that James River Group Holdings quit at the end of 2019.
Liberty Mutual picks up Uber business dropped by James RiverLiberty Mutual is the latest addition to Uber’s panel of insurers with the Boston-based carrier entering some of the states vacated by James River Group Holdings after it ended its relationship with the ride sharing company at the close of 2019 owing to heavy losses.
Liberty Mutual sells off Russian unit to SovcombankBoston, Massachusetts-headquartered Liberty Mutual has agreed to sell its Russian subsidiary, Liberty Insurance PJSC, to Sovcombank Group – the third-largest private bank in Russia.
Liberty latest to retrench from thermal coalLiberty Mutual Insurance will no longer underwrite risks for companies where more than 25 percent of their exposure arises from the extraction and/or production of energy from thermal coal, with plans to phase out existing risks that exceed this threshold by 2023.
Liberty Mutual hands Beauvais expanded construction roleLiberty Mutual’s Global Risk Solutions (GRS) unit has handed market veteran Ben Beauvais a newly created role designed to better support the carrier’s construction brokers and clients.
Former Ironshore chief Kelley to retire from LibertyLiberty Mutual’s vice chairman of Global Risk Solutions (GRS) Kevin Kelley is to retire from the company at the end of the year, The Insurer can reveal.
Liberty in $1.3bn ADC with Berkshire HathawayLiberty Mutual has entered into an adverse development cover (ADC) with Berkshire Hathaway to provide up to $1.3bn of reinsurance protection for a portion of its US workers comp, commercial auto and general liability reserves.
Seeing beyond the short termLiberty Mutual Re’s president Dieter Winkel examines how best to respond to what seems an increasingly chaotic world.
Liberty Mutual unit appoints North America CUOLiberty Mutual Insurance has named David Perez as chief underwriting officer, North America, for its global commercial and specialty lines (re)insurer Global Risk Solutions (GRS).
Putting the brakes on claims inflationCasualty claims inflation shows no sign of slowing. Liberty Mutual Re’s head of casualty reinsurance, Thomas Greene, asks why and explains what action the market is taking.
Liberty Mutual appoints excess casualty, public entities CUOsLiberty Mutual has appointed two national insurance chief underwriting officers: Jon Tellekamp for excess casualty and Doug Manwaring for public entities and programs.
Liberty Mutual reveals $82mn Jebi developmentLiberty Mutual has revealed loss creep from Typhoon Jebi, while reporting a 101.2 percent combined ratio for the second quarter.
Liberty Mutual renews Limestone Re sidecar at $240mnUS P&C heavyweight Liberty Mutual has renewed its reinsurance sidecar Limestone Re at $240mn, slightly smaller than last year’s $278mn vehicle because of a “revised portfolio composition”.
Liberty Mutual ratings affirmed after strong 2018 surplus recoveryAM Best has affirmed the A financial strength ratings and the “a” long-term issuer credit ratings of most of the members of Liberty Mutual, noting its improved statutory surplus in 2018 over the year before.
Liberty Mutual Re joins Lloyd’s Mexico platformLiberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Special Markets (LSM), has become the latest player to open an operation in Mexico under the Lloyd’s banner.
Improved UW helps Liberty Mutual operating profits surge 68%Pre-tax operating profit climbed $269mn to $662mn for the first quarter Combined ratio improved 2.7 points to 96.3% Consolidated net income for Q1 2019 was $671mn, an increase of $22mn or 3.4 percent over the same period in 2018. Net written premium for the first quarter was $9.70bn - a 2.8 percent increase from Q1 2018
AmTrust to sell surety and credit business to Liberty MutualExpansive (re)insurer Liberty Mutual has agreed a deal to buy the global surety and credit reinsurance operations of AmTrust.
O’Donohoe leaves Hamilton; Barrett takes new specialty roleHamilton at Lloyd’s CEO Dermot O’Donohoe is leaving the carrier just weeks after its Bermudian parent announced it had agreed a deal to buy Pembroke and other operations from Liberty Mutual.