Liberty Mutual’s newly formed Global Risk Solutions business has announced its operating structure.
The business will consist of four main arms:
LSM already includes Liberty’s highly successful $1.5 billion global reinsurance business led by Dieter Winkel, president of Liberty Mutual Reinsurance. It will be run by a single management team in London and will bring together LSM’s existing operations with Liberty Mutual’s and Ironshore’s current specialty operations in South America, Asia Pacific, Bermuda and Europe, including Pembroke, which will continue to operate independently from Liberty’s syndicate business.
“This move will bring together the skills and expertise of our people around the globe under one executive management to leverage our global scale and local capabilities,” said Matthew Moore (pictured), LSM president & managing director. “Each of the constituent parts of the new LSM are excellent businesses in their own right, putting customers at the heart of everything they do.
“As the (re)insurance market becomes ever more globalized, it is crucial that we increase our communication and collaboration across geographic borders, to serve our customers better and grow a world beating business. It will make us easier to do business with, and help the staff and customers of every part of the new LSM to prosper.”
Mark Wheeler, former CEO of Ironshore International and Pembroke Managing Agency, will take up a new post as LSM’s president, International Markets, responsible for coordinating LSM’s international business outside the UK. Tim Glover will succeed Wheeler as CEO of Pembroke.
He commented: “There is much potential to realize as we bring our global business under one strategy, and we are determined to make that happen. I am hugely excited by the challenges and opportunities ahead.”