Just over 12 months after it was launched, Liberty Mutual Insurance (LMI), the commercial lines division of Liberty Mutual Insurance Europe Limited (LMIE), and part of Liberty Mutual Insurance Group, is reporting substantial profitable growth.
Writing in this year’s LMIE annual report, LMIE chief executive Sean Rocks noted that the division has broadened the distribution of its products, primarily property, casualty and financial lines and almost doubled its headcount.
He said: “I am pleased to report that LMIE’s commercial business is already showing substantial profitable growth, with more scope ahead to secure and expand our position in the market.”
Rocks concluded that he expected to see further growth in LMIE’s commercial operation in 2012.
LMI was launched in March 2011, representing LMIE’s first major push into the UK’s commercial mid-to-large SME market. The move has seen a major expansion to LMI’s network of regional offices with new offices in Birmingham, Leeds and the South East. LMIE also has offices in London, Bristol, Cheltenham and Manchester.
