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 to launch new e-Trading trade credit platform
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, will soon launch Toredo, a web-based platform for transacting specialised trade credit insurance for banks, corporates and commodity traders.
The new LSM platform will allow underwriters, brokers and clients to buy and sell insurance capacity with greater speed, visibility and efficiency. Beyond operating the platform, LSM will provide capacity to Toredo. Other capacity will come from a soon-to-be announced consortium.
Peter Sprent, Head of LSM’s Global Financial Risks team, said:
“Our aim in launching Toredo is to improve customer experience by making the purchase of single situation trade credit simpler, faster and more cost-effective.
“Toredo will provide real efficiency savings by giving brokers and clients greater visibility over underwriter risk appetite, capacity and pricing as well as closing transactions with much greater speed.”
In January, LSM announced that Chris Hall from Lloyds Banking Group was joining the business as Senior Underwriter in the GFR team to develop a new trade finance insurance initiative. That initiative can now be confirmed as Toredo.
Full details of Toredo’s product range and instructions for accessing the platform will be announced shortly.
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