Liberty Mutual Insurance has appointed Frederick Ling as head of specialty for Liberty Mutual Canada.
In this position, Ling will oversee the specialty insurance portfolio and report to Rob Marsh, president of Liberty Mutual Canada.
Ling’s responsibilities will include managing the financial and operational performance of specialty lines, which cover financial and professional services, cyber and technology, marine, mergers and acquisitions, and environmental insurance.
He brings more than 20 years of industry experience, with a background that spans specialty insurance markets in Canada, the United States, Europe, the Middle East, and Africa.
“Under Frederick’s leadership, and with the foundation set by our leadership team, we are in an even stronger position to leverage our specialty lines of business as a differentiator in the Canadian market,” said Rob Marsh, president, Liberty Mutual Canada. “I am incredibly excited to partner with Frederick and the rest of the Liberty Mutual leadership team as we execute our strategy through 2025 and beyond.”
Liberty Mutual Insurance, formally known as Liberty Mutual Holding Company and its subsidiaries (LMHC), recently reported improved financial results for the third quarter of 2024.
The company posted net income of US$892 million for the quarter ending September 30, up from US$219 million during the same period in 2023. The insurer’s combined ratio stood at 96.7%, an improvement from 102.6% a year earlier.
The third-quarter results continue a trend seen earlier in the year. In the first quarter, Liberty Mutual reported net income of US$1.535 billion, following a loss of US$74 million in 2023. The second quarter saw net income of US$717 million, compared to a US$585 million loss in the prior year.
