BOSTON (Feb. 7, 2023) – Liberty Mutual Insurance today announced the appointment of Carolyn Banks as Chief Operating Officer (COO) for Global Risk Solutions Liberty Mutual Surety unit, the largest surety provider in the world.

In this newly created role, Banks will report to GRS COO Sue Figueredo Cook and Global Surety President Tim Mikolajewski.

She is responsible for leading the Global Surety Operations team and partnering with Technology colleagues to deliver business value through strategic investments and with COOs in other GRS units to contribute to global operational strategies.

“Carolyn’s track record of success is driven by a management style centered on understanding complex business needs, setting clear goals, building structure and empowering interdisciplinary teams to find innovative solutions that drive results,” said Mikolajewski. “She brings these skills to a vital new role that will help us continue to add value to surety buyers and business partners across the globe.”

Figueredo Cook added, “Establishing a Chief Operations Officer, and appointing such a strong leader to that role, underscores our commitment to leading the global surety market by providing exceptional service and tailored solutions to our surety clients.”

Banks joined Liberty Mutual in 2013 and has held a number of key roles. Most recently she was Global Surety Manager, Claims Operations & Enablement. In this role she managed a team providing consistent claims handling, directly contributing to Surety’s global growth and exceptional service for its clients. Before joining Liberty Mutual, Banks served as a construction engineer with ExxonMobil.

About Liberty Mutual Insurance 
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people and businesses embrace today and confidently pursue tomorrow. 

In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2020 gross written premium. We also rank 78 on the Fortune 100 list of largest corporations in the US based on 2021 revenue. As of December 31, 2021, we had $48.2 billion in annual consolidated revenue. 

We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety - Liberty Mutual Surety is the largest surety - provider in the world based on publicly available data - and commercial property. 

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