Liberty Mutual’s Global Risk Solutions (GRS) unit has joined areas that independently provided credit and political risk products into a single unit – Financial Risk Solutions.

The new unit is based in London and led by Peter Sprent, head of Financial Risk Solutions, Liberty Specialty Markets (LSM).

“Joining credit and political risk experts from Liberty Specialty Markets and Ironshore into a single, global operation makes it easier for brokers and buyers to access sophisticated solutions from a financially strong carrier,” said Matthew Moore, president of LSM. “The creation of Financial Risk Solutions best positions us to deliver our goals of enhancing our market capabilities to grow in the credit and political risk markets, and providing better solutions to our customers in a consistent and coordinated way via our teams around the world – from better access and clarity to enhanced global solutions and best-in-class claims services.”

The LSM credit and political risk claims team will oversee claims for the combined unit. The launch of Financial Risk Services will not change the current contacts credit and political risk brokers have at Liberty Mutual, the company said.

“While we work to transition towards an integrated global team, brokers and customers should continue to approach the existing teams on a ‘business as usual’ basis,” Sprent said. “The goal is to optimize our organizational structure by creating a fully integrated team that best aligns with and supports our brokers and customers.”