There is a new name for the reinsurance division of Liberty Specialty Markets – and a new location too.
The company has today revealed a rebrand of the division to Liberty Mutual Re, while also announcing the launch of an operation in Italy for the first time. The newly named business will have a location in both Rome and Milan and will begin trading immediately under the guidance of Massimiliano Fantini, who is making the switch from Guy Carpenter Italy. It is set to write property, casualty and specialty business.
“The launch of our Italian business is a key step in our plans to grow Liberty Mutual Re’s business,” said Dieter Winkel (pictured), president of Liberty Mutual Re. “We’re extending our global footprint while building on the close relationships we’ve already developed with clients and brokers in Italy.
“In Massimiliano Fantini, we have found a talented and highly-respected reinsurance professional to lead our Italian team. He also brings with him a wealth of contacts and local knowledge, which will be extremely valuable as we reach out to the Italian market. Massimiliano’s mission is to provide a first-class service to Italian insurance companies, with a complete range of reinsurance products both on a proportional and non-proportional basis.”
In addition, the company has announced that its US operation will start writing marine business for the first time and the rebrand will, in all, encompass 180 people across 14 locations.
“By rebranding as Liberty Mutual Re, the sole treaty reinsurance business within Liberty Mutual Group, we can be very clear about the benefits that our financial strength offers while highlighting the breadth and depth of our offering,” added Winkel. “Our rebranding signals our intention to leverage the Liberty brand and emphasize the sheer strength of the balance sheet on which the Liberty Mutual Group is founded. This is just the start of the process.”