Liberty Mutual shakes up excess casualty unit
Property/casualty insurer Liberty Mutual is realigning its excess casualty operations and increasing its capacity to $100 million.
Starting next year, all admitted excess casualty business for retail accounts will be underwritten by Liberty Mutual, and all non-admitted excess casualty business, along with all wholesale business - whether admitted or non-admitted, will be written by Ironshore.
Bermuda-based specialty property/casualty insurer Ironshore has become part of Liberty Mutual following its $2.94 billion takeover in 2017.
"Our realignment provides excess casualty brokers and buyers with a simplified structure, consistent appetite and higher capacity, backed by Liberty Mutual Insurance's financial strength and underwriting expertise," said Doug Manwaring, head of excess casualty, Liberty Mutual National Insurance.
Diana Cossetti, head of excess casualty, Ironshore, added: "Aligning our operations on an admitted vs. non-admitted basis, as well as distribution channel, allows our dedicated underwriting teams to build strong relationships with our respective business partners, while enhancing our ability to provide products that better match the evolving risk transfer needs of the insured and broker."
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