Liberty

Liberty facing mid-hundreds of millions of dollars loss from US winter storm

Liberty Mutual expects to take a mid-range hundreds of millions of dollars loss from the devastating winter storm that has hit Texas and other US states, although its exposure is not expected to trigger its reinsurance protections.

Liberty takes $653mn prior year reserve charge in Q4

Liberty Mutual took a $653mn prior year reserve charge and $474mn of cat and Covid losses in Q4 2020 as the insurer fell to a pre-tax operating loss before partnerships, limited liability companies and other equity method income of $33mn.

Liberty GTS holds per-risk capacity firm at $200mn for 2021

Liberty Global Transaction Solutions (GTS) will keep its underwriting capacity flat for the 2021 year of account at $200mn per risk across its product lines.

LSM names AGCS’ FitzGerald as divisional head of FinPro

Liberty Specialty Markets has appointed Terry FitzGerald as divisional head of financial and professional lines.

LSM launches SME terrorism cover in Germany

Liberty Specialty Markets (LSM) has launched terrorism insurance coverage for SMEs in the German market.

Insurance companies line up to suspend political contributions after DC riots

Chubb, Travelers, The Hartford, Liberty Mutual and Aon are among the insurance industry companies that have so far taken action to suspend political contributions in light of last week’s riots in Washington DC and some lawmakers’ opposition to certifying the electoral college vote.

LSM names BP’s Harding as global head of energy

Liberty Specialty Markets (LSM) has appointed Lesley Harding as global head of energy.

Liberty Mutual first US P&C insurer to join PRI initiative

Liberty Mutual Insurance has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI) as part of its commitment to environmental, social, and governance (ESG) progress.

LSM promotes Rafique to new downstream energy role in Dubai

Liberty Specialty Markets (LSM) has promoted Shazia Aslam Rafique to the newly created role of regional product line manager, downstream energy for London, Europe and Dubai.

LSM promotes Bolaños to US & LatAm president

Liberty Specialty Markets (LSM) has promoted Ronald Bolaños to president for US and Latin America, a role which encompasses specialty insurance and facultative reinsurance.

LSM names Macqueen chief digital transformation officer

Liberty Specialty Markets (LSM) has appointed Mandy Macqueen to the newly created role of chief digital transformation officer.

Lyft’s expansion of insurance panel causes Axa XL’s participation to reduce

Lyft’s decision to broaden its insurers to include Allstate, Liberty Mutual and Mobilitas has reduced Axa XL’s dominance within the panel.

Lyft adds Allstate, Liberty Mutual and Mobilitas to insurance roster

Allstate, Liberty Mutual and Mobilitas have joined the roster of insurers that provide coverage to drivers of ride-sharing app Lyft, with the three companies understood to now be writing coverage across a combined 24 states.

Mishcon de Reya ‘actively considering’ Covid-19 group action against 12 insurers

Law firm Mishcon de Reya is considering a group action against 12 insurers in light of the High Court verdict in the Financial Conduct Authority’s test case on Covid-19 business interruption losses.

Covid-19 expected to cause new M&A claims trends: Liberty GTS

Covid-19 has not yet led to a noticeable increase in M&A claims activity but the pandemic may result in certain types of claims becoming more common, such as those related to labour issues or key customer insolvency, according to an M&A claims study from Liberty Global Transaction Solutions (GTS).

LSM hires Sanlam’s Fraigneau as CUO Europe

Liberty Specialty Markets (LSM) has named Pierre-Édouard Fraigneau as chief underwriting officer Europe.

Liberty Mutual appoints Montoya COO for GRS unit

Liberty Mutual’s Global Risk Solutions (GRS) unit has appointed Alexander Montoya as chief operating officer (COO) for its North American operations, The Insurer has learned.

Navigators leads $60mn Beirut container terminal property cover

Navigators, along with international carriers including Munich Re, Markel, Liberty, QBE and Travelers are facing a possible $60mn claim as a result of the devastating 4 August Beirut port explosion, The Insurer can reveal.

Miller forms new London focussed GL energy facility

Miller’s energy team has formed a new London Market general liability (GL) facility in response to a curtailing of capacity in the sector and the withdrawal of certain key players such as Liberty Europe and Aspen.