Liberty Mutual Chairman and Chief Executive Officer Edmund “Ted” Kelly said only strong companies that recognize global business opportunities will succeed because they will be poised to take advantage of the market when it improves.

Any company with operations only in North America “will be totally irrelevant” eventually, “except as a niche company,” he told an audience at the 22nd Annual Executive Conference for the Property and Casualty Industry, presented by The National Underwriter Company in New York last month.

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