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 Specialty Markets grows European business
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, has entered into a renewal rights agreement with Ironshore Europe to take on its European non-M&A business and staff. Liberty Specialty Markets and Ironshore are parts of Liberty Mutual’s Global Risk Solutions division, writing speciality insurance and reinsurance business.
The move, which builds on Liberty Specialty Markets’ strategic growth plans in Europe, will see Ironshore’s locally written European retail business from its Cologne, Zurich and Rotterdam offices offered for renewal by Liberty Specialty Markets.
Additionally, some of Ironshore’s underwriters in these three cities will move to Liberty Specialty Markets’ European operation on 1 August (subject to staff consultation)
Kadidja Sinz, Liberty Specialty Markets’ Head of Europe, said: “This is an excellent opportunity to combine our talents and capitalise fully on the strength of Liberty Speciality Markets and is a further step in our overall strategy to be a leading specialist insurer in Europe.”
The main lines being transferred are contingency, construction, fine art and specie, liability, marine and personal accident.
Ironshore will cease to underwrite new business from its locations in Cologne, Zurich and Rotterdam, but retain staff to handle the run-off of existing policies. Ironshore’s M&A underwriting business in Frankfurt is unaffected by this move and will continue to operate under the Ironshore brand.
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