Liberty Mutual Insurance announced strategic updates in its ongoing restructuring of Global Risk Solutions (GRS), the company’s global commercial and specialty re/insurer and international insurance operations.
The restructuring includes the creation of a new international insurance business division, the unification of two business operations in Asia and the evolution of the company’s global surety model. These strategic choices allow GRS to further enable global capabilities through local execution — all in service of meeting the evolving needs of clients and broker partners, the company said.
GRS will create Liberty International Insurance (LII), which will continue to go to market in Asia Pacific, Europe, Latin America and the UK & MENA under its existing brands, including Liberty Specialty Markets (LSM) and Liberty Insurance.
Phil Hobbs, currently president and managing director, Liberty Specialty Markets, will be named president, Liberty International Insurance, and will continue to report to Bhalla Johnson.
This restructure brings together two business units in Asia — LSM and Asia Retail Markets — to create a single unified strategy in the region.
Matthew Jackson
, currently head of Asia for Liberty Specialty Markets, will be named president, Liberty International Insurance, Asia Pacific. Jackson will continue to be based in Singapore and will report to Hobbs.
LII’s other regions will continue to be led by: Kadidja Sinz, president, Europe; Manuel Moreno, president, U.S. and Latin America; and Luis Prato, president, UK & MENA. Sinz, Moreno and Prato will continue to report to Hobbs.
Additionally, Defne Turkes, currently president, Asia Retail Markets, will be named chief operating officer, Liberty International Insurance, and will dually report to Hobbs and Sue Figueredo Cook, chief operating officer, Global Risk Solutions.
Mike Abdallah, who started the Asia Pacific commercial insurance business of LSM 25 years ago, continues in his current leadership role.
In addition, Liberty Mutual Surety is making organizational changes in the U.S., which will benefit its brokers and customers globally. As a result of this new operating model, Liberty Mutual Surety can better leverage its talent to provide surety customers worldwide with more product expertise and value-added services, the company said.
Tim Mikolajewski, president, Global Surety, will continue to lead these operations, reporting to Bhalla Johnson.
Source: Liberty Mutual Insurance
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