Press Releases
Liberty Mutual to Sell Insurance to Mid-Sized Businesses Exclusively through Agents and Brokers
January 22, 2009
Keywords: Business Insurance
Distribution and Retires Wausau Brand
Boston – Liberty Mutual Group today announced that it has discontinued direct distribution to mid-sized businesses and, that going forward it will distribute its commercial property and casualty insurance products in the middle market exclusively through agents and brokers. The Company also announced the retirement of the
To ensure a smooth transition for its customers, Liberty Mutual has entered into definitive agreements to sell the policy renewal rights of its middle market operations to three firms: Arthur J. Gallagher &
“Today’s announcement reinforces our commitment to being a leader in commercial insurance,” said Edmund F. Kelly, Liberty Mutual Group chairman, president and chief executive officer. “The agreements with Gallagher, Hub and USI speak to the quality of our business and desire to form strong, mutually beneficial relationships with agents and brokers who have earned outstanding reputations among middle market buyers.”
J. Paul Condrin, Liberty Mutual’s president of Commercial Markets, added, “For years, agents and brokers have sought to place their middle market clients with Liberty Mutual but couldn’t access us because we distributed directly to that segment of the market. Now they can. And we are giving middle market businesses what they want, the opportunity to have Liberty Mutual as their carrier, and still work with their trusted advisor - their agent or broker.”
Mark A. Butler has been appointed chief operating officer of the new Liberty Mutual Middle Market business unit. Mr. Butler was previously executive vice president and general manager of field operations for Liberty Mutual’s National Market commercial insurance operations.
Liberty Mutual Middle Market is working to expand its network of appointed agents and brokers. Liberty Mutual already writes large national account business through brokers and small commercial business through independent agents. In fact, most of the Company’s commercial insurance is distributed through third parties.
Wausau Insurance Company, a wholly owned subsidiary of Liberty Mutual since 1999, has written middle market business through appointed agents and brokers. “So while the
Liberty Mutual has launched a web site, www.libertymutualgroup.com/middlemarket, to provide more information about today’s announcement. If you are an agent or broker interested in working with Liberty Mutual Middle Market, call 1-800-847-7783.
About Liberty Mutual Group
Boston-based Liberty Mutual Group is a diversified global insurer and sixth largest property and casualty insurer in the
Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, reinsurance, fire and surety.
Liberty Mutual Group (www.libertymutualgroup.com) employs over 45,000 people in more than 900 offices throughout the world.
Contact:
John Cusolito
617 574-5512
john.cusolito@libertymutual.com
Richard Angevine
617 574-6638
richard.angevine@libertymutual.com