Liberty Mutual Group

• Advisory Committee to FIO Includes Regulators; Excludes Legislators

  By Arthur D. Postal, PropertyCasualty360.com  |  November 10, 2011

  The Treasury Department has announced the 15 members of the Federal Advisory Committee on Insurance (FACI), which is charged with advising the newly created Federal Insurance Office—but state legislators are upset they aren’t being represented.

• October Rates Provide More Evidence of Market Shift; Demand to Rise in Nontraditional Risks

  By Mark E. Ruquet  |  November 10, 2011

  Showing rate increases/decreases were flat for the month, MarketScout’s October barometer provides further evidence of the soft market making a turnaround. One insurance-broker executive says he believes the industry is actually primed for an increase in demand— although likely in areas outside the traditional property and casualty arena.

• Three Major U.S. Insurers Report Third-Quarter Struggles

  By Mark E. Ruquet, Chad Hemenway, PropertyCasualty360.com  |  November 10, 2011

  Three large U.S.-based property-and-casualty insurers were unable to post third-quarter profits, with The Hartford stating its net income was flat and American International Group (AIG) and Liberty Mutual Group both reporting net losses.

• LIU Property Operation Westward Bound as Companies ‘Right-Size’

  By Chad Hemenway, PropertyCasualty360.com  |  November 9, 2011

  Liberty International Underwriters is “not trying to time the market” with the opening of an excess and surplus property operation on the West Coast, said Michael Carr, senior vice president of LIU E&S property.

• Liberty Mutual Reports Third-Quarter Loss of $111M

  By Mark E. Ruquet, PropertyCasualty360.com  |  November 7, 2011

  Liberty Mutual Group reported a third-quarter loss of more than $100 million on the combination of catastrophe losses and reserve increases related to asbestos liabilities.

• Coalition Including Insurance Groups Push for End to NFIP Subsidies

  By Arthur D. Postal, PropertyCasualty360.com  |  October 28, 2011

  Significant changes in the National Flood Insurance Program—including an end to all subsidies within five years—are being proposed by a diverse coalition organized by SmarterSafer.org.

• GenRe, AIG Exec Convictions Vacated; Liberty Mutual May Challenge AIG Workers’ Comp Settlement

  By Chad Hemenway, PropertyCasualty360.com  |  August 4, 2011

  Two ongoing industry legal battles saw recent developments, as an appeals court vacated the convictions of former General Reinsurance Corp. and American International Group executives; and Liberty Mutual Group says it likely will appeal the preliminary approval given to a $450 million settlement between AIG and other companies stemming from...

• 2Q Results: Cats Still The Story; Allstate CEO Addresses Agent Morale

  By Chad Hemenway, PropertyCasualty360.com, Mark E. Ruquet, PropertyCasualty360.com  |  August 4, 2011

  Catastrophes continue to drive down second-quarter results for insurers as both domestic carriers and Bermuda companies report net-income declines and even losses, headlined by Allstate’s $620 million second-quarter loss.

• Liberty Mutual Reports $170M Second-Quarter Loss on Cats

  By Chad Hemenway, PropertyCasualty360.com  |  July 29, 2011

  The first quarterly earnings conference call with new Liberty Mutual Group President and CEO David H. Long involved the reporting of a net loss of $170 million for the 2011 second quarter, driven by nearly $1.3 billion in catastrophe losses.

• Liberty Mutual’s Kelly to Step Back and Enjoy the Symphony

  By Chad Hemenway, PropertyCasualty360.com  |  June 16, 2011

  Outgoing Liberty Mutual Group chief executive Edmund “Ted” Kelly says his continued role as chairman will not include stepping on David H. Long’s toes.