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.
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.
If you would like to make contact with LSM about this new product, Click Here, leave a message and youTalk-insurance will pass your enquiry on
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