Liberty Mutual

Liberty recently restructured its UK and MENA underwriting leadership.

Executives also agreed that facilitisation is a structural market change.

Ed Louth will join Liberty next year after serving out his contractual duties at Willis.

Matthew Hogg joined Liberty Specialty Markets in 2010.

Reinsurer executives stressed that the industry worked hard on setting the right structure.

The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.

The underwriter has over 20 years' experience in the construction insurance sector. 

Robert James is set to join the Bassel Matta-led team.

The underwriter was head of financial institutions at LSM for six years.

The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.

Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.

He will succeed incumbent president Kadidja Sinz.

Clients are increasingly using captives because of uncertainty around long-term capacity commitments.

Niala Butt joins from CNA Hardy, where she was casualty claims manager.

The carrier is launching a dedicated auto-follow unit within its DA practice.

The executive criticised the ongoing underrepresentation of women in senior leadership roles.

He expects the operational hygiene of MGAs to be tightened soon.

Conflict between China and Taiwan would be a “game changer” for marine war.

Two major claims have prompted underwriters to question the sustainability of double-digit rate decreases.

The two Asian companies wrote $265mn net premiums in 2024.

Last month, MGA Acquinex’s 20+ transactional risk team resigned for roles at Howden-owned MGA Dual.

Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.

The offering will provide D&O, professional indemnity/errors and omissions, crime and cyber cover.

The court will consider appeals against initial judgments that found in policyholders’ favour.

Alex Nelson will work as head of power and renewable energy at the carrier.

Liberty Mutual expects $550mn in Helene losses versus Milton’s $250mn-$350mn.

Incumbent Mel O’Neill will retire at the end of the year.

She replaces interim COO Kirk Maddern, who retires at the end of the year.

Sources said LSM head of third party in Miami Humberto Pozo will serve as interim head of distribution.

The LSM London COO and London reinsurance COO are due to depart.

The executive has spent 35 years in the London market.

Staff movement in energy has been more active than any other class of business this year.

Julie Haase currently serves as COO of Liberty Mutual Investments.

The executive said that more sophisticated use of data could optimise a portfolio.

The flurry of London market PVT hiring continues.

Daniel Fulco has spent nearly 12 years at LSM.

Recent contingency losses reflect a willingness of the market to go looking for premiums.

The BMC-IBM judgment was insured for about $700mn on a heavily co-insured tower of around $1bn.

Prato will join the IUA’s board at its meeting in July.

Staff movement has been elevated in the energy market since the beginning of the year.

The group has promoted Defne Turkes to COO of its new international insurance unit.

The product was made through a partnership with technology provider Safehub.

The underwriting loss came in at £88mn, as reserve strengthening reached £189mn.

Talbot is rebuilding its PV team after a December Ark and Chaucer raid.

The company provides reinsurance to insurers in LatAm and the Caribbean.

He will report jointly to Melanie O’Neill and Ronald Bolaños.

The court gave a mixed ruling on subjects including coverage, aggregation and furlough.

The executives join as representatives of the Lloyd’s Market Association and International Underwriting Association.

In his new role Bolaños will report to both Matthew Moore, Liberty Global Risk Solutions (GRS) president of underwriting, and to Phil Hobbs, LSM president and MD.

The global segment leader for power generation moves to Tokio Marine HCC soon after his colleague Nicola Hannay.

He replaces Mark Stephenson, who is leaving Liberty to join Ardonagh.

The underwriter will work with product leaders across regions to deliver a global product offering for international clients.

The underwriter will work in the retail property team at BHSI serving the central region.

Competition for talent has led to high levels of staff displacement in the marine hull market.

There is an increasing focus in the casualty reinsurance space on social inflation and litigation funding trends.

Liberty GTS noted a fall in the proportion of R&W notifications where the potential loss exceeds the retention in the last 12 months as compared to the preceding 12 months.

The eight-day trial will look at prevention of access wordings, policy limits and furlough payments.

Furlan has spent nearly a decade at RSA.

Staff movement in the marine class exceeds that in all other lines of business.

ESG targets and the growth trajectory of renewables is attracting capacity to the class of business.

The appointment comes just over two years after Sompo International entered the political violence and terrorism market.

The company also announced that Asia retail markets will join global risk solutions and that it was launching its enterprise transformation and solutions unit.

The business development and market relationships head will join the Ron Hayes-led unit, focusing on specialty.

The carrier has hired Melanie Mason from Liberty Mutual to replace Lisa Wolfe as property underwriting manager in Canada.

Price Forbes now houses Ardonagh Specialty’s energy operations, absorbing teams from Ed Broking, Besso and Bishopsgate.

Luis Prato joins from Axa XL, where he was CUO of Axa XL UK and Lloyd’s since 2018.

The cargo market is undergoing staffing turmoil as firms vie to secure talent.

The sale includes Liberty Seguros operations in Ireland, Northern Ireland, Portugal and Spain.

Based in London, the pair will be tasked with growing LSM’s multi-buyer trade credit portfolio.

Individual Covid BI cases continue to roll through the courts, with several major decisions.

Talanx said the transaction will make the company the third-largest P&C insurer in Latin America.

Rise Aviation has named the two insurers as the representatives for its all-risk and hull-war reinsurance policies, respectively.

Net claims from the two major events cost the business almost £250mn.

Ross Taylor headed the Liberty Specialty Markets marine liability book, which was placed into run-off earlier this year.

Olivier Reiz joins from Chubb, where he was strategic growth director for Continental Europe.

The US mutual cut back its 1.1 reinsurance program, according to sources.

As Adidas terminated its partnership with Kanye West following his antisemitic tweets, it projected a loss that signalled why insurers should be pushing the need for brand reputation insurance.

Liability business has been impacted by rising claims costs, driven by social inflation trends.

Owen takes over from Peter Sprent who is leaving the carrier at the end of March to pursue personal interests.

The Boston-headquartered mutual is understood to have recently pitched potential acquirers of the LatAm assets.

Melanie O’Neill was previously CUO of LSM’s commercial business and takes over her new specialty responsibilities from Mike Gosselin.

The role is part of Liberty’s recently launched digital strategy function.

The pub group and bakery chain will dispute elements of judgements issued in October in UK Covid-related BI lawsuits.

The carrier is reportedly looking to sell its operations in Spain, Portugal and Ireland.

The appointment completes the CUO team at Liberty Mutual’s Global Risk Solutions office of underwriting.

The platform will automate a range of processes across risk submission, risk appetite evaluation, underwriting and pricing for quotation, using a lead algorithm.

Mike Gosselin has spent 21 years at Liberty Specialty Markets, most recently as CUO for specialty lines.

Martin Vince replaces Laura Burns, who was recently appointed head of client management at LSM.

Many policyholders are likely to receive larger payouts following the judgement, but a worst-case scenario has been averted.

Stonegate’s case is seen in the market as a key precedent for the aggregation of BI claims.

Liberty Specialty Markets said it was still fully committed to writing aviation risks.

Consortium 7763 will write risks on behalf of Aegis, Antares, Apollo, Axis, Chaucer and Munich Re.

Ankita Dutta joins from Zurich, where she was lead underwriter for the credit and political risk book in Singapore.

The hydrogen industry is a key pillar of the energy transition, but securing insurance coverage is challenging.

Clubs including Arsenal, Aston Villa and Leicester City are claiming against insurers.

The firm also hired Aspen’s Crystal Ottaviano as global risk solutions chief risk officer.

A steady flow of litigation relating to Covid-19 BI is hitting the courts, despite the completion of the FCA test case last year.

Nicholas Ferrari will be based in Sydney and head up transactional liability in Australasia.

The suit is the latest in a series of Covid-19 BI legal actions hinging on aggregation brought against insurers.

The parties gave their final submissions following a legal hearing that has lasted over two weeks.

The insurers also claimed that Stonegate’s desired treatment of furlough payments would lead to it being ‘over-indemnified’.

The pub company is looking for a payout at every one of its 760 premises, whilst insurers claim it is entitled to a single limit.

The pub chain has claimed in court that it is entitled to separate payouts for each of its 760 venues.

Aggregation is the main issue in the landmark case brought against MS Amlin, Zurich and Liberty Mutual.

Sweeney was also appointed to the mutual’s board of directors, effective immediately, as he is set to become Liberty’s 10th CEO in its 110-year history.

The new hire joins from Axa XL, with a background at Hiscox.

There have been numerous exits and entries in the class following major Covid-19 losses.

Plus this week’s Q1 results and all the top news of the week.

The executive will be replaced by current deputy Phil Hobbs.

Alli MacLean will take on the expanded role following the exit of contingency chief Yael Mimran.

The carrier is the latest in the Lloyd’s market to post a substantially improved combined ratio in 2021.

Paul Beattie will take up his new role in addition to his existing one as head of underwriting for marine niche products.

The carrier continues to write the class from other global hubs.

The firm has promoted Huw Owens to CUO and Sam Wilde to head of London markets in its financial risk solutions division.

Liberty is one of the major leaders in the London contingency market, which was hit by large Covid-19 losses.

The Willis solution is designed to help companies access insurance as they transition to a low-carbon business model.

Insurers MS Amlin, Liberty Mutual and Zurich claim that the BI policy has a maximum limit of £17.5mn.

The merged AmGeneral and Liberty Insurance Berhad operations will create the largest auto insurer and second-largest P&C insurer in Malaysia.

Markel, Beazley, Hiscox, Chaucer, Brit and Liberty Specialty Markets are all participants in the product development.

The new appointments comprise several senior promotions, with Tim Sweeney assuming oversight of the firm’s three business units as president.

Jennifer Quinn will be tasked with growing Liberty’s market presence in cyber and strategic assets business.

Liberty aims to strengthen PI offering in German market with hire.

The former Syndicate 4472 active underwriter is to oversee LM Re’s global portfolio.

The new recruit, a former senior Liberty Mutual executive, put his insurance start-up plans on ice last November.

The deal will transfer legacy Pembroke business that still sat with Liberty Mutual Group for the 2018 and prior years of account.

The EU surety and guarantee operations is now one entity and rebranded to Liberty Mutual Surety.

The carrier is in the early stages of marketing a US construction defects book and a UK motor portfolio.

The impending deal follows recent Lloyd’s legacy transactions with Neon and ArgoGlobal by RiverStone.

The Gallagher-brokered and Liberty-led account is likely to generate a $3mn hull claim and between $6mn-$9mn in liability losses.

The US carrier has offloaded a tranche of liability business written out of London.

The increase is just above the Lloyd’s aggregate 8.5% market growth figure.

Soaring rates in the D&O market have prompted a string of underwriting people moves in London.