Liberty Specialty Market's Luis Prato appointed to IUA board
Authored by Liberty Specialty Markets
The Board of the International Underwriting Association is to be strengthened with the addition of another senior London Market figure to its ranks. Luis Prato is President of UK & MENA at Liberty Specialty Markets, where he is responsible for setting the firm’s strategy in those regions. He will join the IUA Board at its next meeting in July.
The board is responsible for governing and overseeing all the association’s work in seeking to secure an optimal trading environment for London insurance companies. It comprises up to 20 member representatives who are all in senior executive positions.
Prato has more than three decades of experience in the insurance industry, has held various underwriting, risk management, and leadership positions and recently obtained an MBA from Cambridge Judge Business School. He joined Liberty in 2023 from AXA XL, where he was Chief Underwriting Officer (CUO), UK and Lloyd's, and the Active Underwriter of AXA XL's syndicate at Lloyd's.
Dave Matcham, Chief Executive of the IUA, said: “I am delighted to welcome Luis Prato to the IUA Board. His extensive experience as a senior industry leader will be a real asset to our organisation and I look forward to his insight and knowledge contributing to our objectives.”
Luis Prato said: “I am very pleased to be joining the IUA Board. As a firm believer in its objective to optimise the London Market, I look forward to being at the forefront of conversations to improve processes and maintain London’s key position on the global stage.”
About Liberty
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 1,700 staff in approximately 65 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 (Liberty Mutual Re). 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. Liberty Mutual is the 5th largest global insurer based on 2017 gross written premium, with over 50,000 employees in 30 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care. We achieve this by offering a full range of personal, commercial, and specialty Property & Casualty insurance coverages. Our customers’ trust has earned us the 68th spot on the Fortune 100 list of largest corporations in the U.S., based on 2017 revenue.