Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US and other international locations. We provide brokers and insureds with a broad range of products through both the Company and Lloyd’s markets and have over 900 staff in 25 offices. Liberty Specialty Markets was established in September 2013 bringing together Liberty’s company, syndicate and reinsurance operations into one combined operation, composed of three business units: Commercial, Specialty and Reinsurance. This integrated approach means brokers and clients can benefit from our global reach and operating efficiencies
Liberty Specialty Markets is part of global insurer, Liberty Mutual Insurance Group, a diversified global insurer, formed in 1912 and headquartered in Boston, Massachusetts. A U.S. Fortune 100 company, Liberty Mutual operates around the globe offering a wide range of insurance products and services, with more than 50,000 employees in over 800 offices throughout the world. The company is the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. It is ranked 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue.
Liberty Global Risk Solutions announces its business structure
Liberty Mutual’s recently formed Global Risk Solutions business has announced its operating structure, which will consist of:
- National Insurance, its US large commercial lines and middle market business
- North America Specialty, its US and Canada specialty businesses
- Global Surety, which includes the 2nd largest surety business in the US, along with its global surety businesses
- Liberty Specialty Markets (LSM). LSM will operate the Group’s reinsurance and specialty insurance businesses based outside the US and Canada. The effect of this is to bring together, under a single management team in London, LSM’s existing operations with Liberty Mutual’s and Ironshore’s existing specialty operations in South America, Asia Pacific, Bermuda and Europe, including Pembroke, which will continue to operate independently from Liberty’s syndicate business
Liberty Specialty Markets already includes Liberty’s highly successful $1.5bn global reinsurance business led by Dieter Winkel, President Liberty Mutual Reinsurance; and LSM’s top five London market (re)insurance operation.
Matthew Moore, Liberty Specialty Markets President & Managing Director, explained: “This move will bring together the skills and expertise of our people around the globe under one executive management to leverage our global scale and local capabilities. Each of the constituent parts of the new LSM are excellent businesses in their own right, putting customers at the heart of everything they do. As the (re)insurance market becomes ever more globalised, it is crucial that we increase our communication and collaboration across geographic borders, to serve our customers better and grow a world beating business. It will make us easier to do business with, and help the staff and customers of every part of the new LSM to prosper.”
Mark Wheeler, formerly the CEO of Ironshore International and Pembroke Managing Agency, will take up a new post as LSM’s President, International Markets, responsible for coordinating LSM’s international business outside the UK. Wheeler commented, “There is much potential to realise as we bring our global business under one strategy, and we are determined to make that happen. I am hugely excited by the challenges and opportunities ahead.” Wheeler will be succeeded as CEO of Pembroke by Tim Glover.
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