Liberty Mutual Insurance Europe (LMIE), a member of Liberty Mutual Group, is launching a major push into commercial lines mid-markets.
The company has been building its infrastructure in the sector, refining its offering and recruiting key personnel over the past year and, to become a recognised and credible alternative to existing commercial carriers, LMIE will expand its network of regional offices in the UK and its suite of commercial insurance products during 2011. The main focus for growth will be in the UK market although the company also writes commercial business in Ireland through its Dublin branch.
Focusing on corporate sector mid-market and larger SME risks, the commercial operation will offer property, casualty and financial lines backed up with risk management and risk engineering services as well as some more specialised products. The company will continue to provide a range of specialty products via its London Market, Continental European and International operations under the Liberty International Underwriters (LIU) brand.
To manage broker strategy while promoting the company’s commercial products, services and brand, LMIE has recruited a business development team for UK business under the leadership of Mark Stephenson, Head of Business Development and Market Relations. The new team is an integral part of LMIE’s plans and Mr Stephenson will be supported by Neil Findley and Ian Cook covering the northern and southern UK, respectively.
The new division will report directly to LMIE CEO Sean Rocks, who will remain closely involved in managing the venture during the early stages of its development.
Explaining LMIE’s new strategic focus on commercial, Mr Rocks said: “We have had a commercial offering for a few years now operating out of London and Dublin as well as regional offices in Bristol, Cheltenham and Manchester. Our presence in this segment has been well-received by brokers and we have begun to score well in broker surveys.
“Now, we’re making major investments in our newly-restructured LMIE commercial division in products, people and expanded distribution, and we are looking to establish the Liberty Mutual brand as a recognised, trusted name in the sector. The net result of this activity will be a modern, highly skilled commercial and corporate insurance operation backed by responsive service enabling us to provide first class solutions to our brokers and clients.”
Source : Liberty Mutual Press Release
