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Liberty Mutual Insurance Completes Inaugural Investor Day and Provides Q4 Estimates for Hurricane Michael and California Wildfires

December 5, 2018 - Today Liberty Mutual Insurance successfully completed its inaugural Investor Day. The purpose of the event was to further introduce the Company's debt investors to the Liberty Mutual Group. It was well attended and the Company provided an update on its strategy and recent financial results. The Company also noted it is currently estimating insured losses of approximately $230 million related to Hurricane Michael and approximately $300 million related to the Q4 2018 California Wildfires.
 

To listen to a recording of the event via PC, please click here.


Liberty Mutual Insurance Reports Third Quarter 2018 Results

November 1, 2018 - Liberty Mutual Holding Company Inc. and its subsidiaries (collectively “LMHC”) reported net income attributable to LMHC of $282 million and $1.911 billion for the three and nine months ended September 30, 2018 versus net loss attributable to LMHC of $665 million and $188 million for the same periods in 2017.

For more information please contact Investor Relations at (857) 224-6655 or e-mail investor_relations@libertymutual.com.
 

Financial Results                              More>>​


2018 Third Quarter

News & Information                      More>>​

Liberty Mutual Announces Debt Exchange Offers
Liberty Mutual Group Inc. today announced that it has commenced offers to exchange new senior notes due 2029 for three series of its outstanding notes: its 5.000% Senior Notes due 2021; its 4.950% Senior Notes due 2022; and its 4.250% Senior Notes due 2023. The exchange offers are being made to eligible holders only (as defined in the below press release).

Each of the exchange offers will expire at 11:59 pm, New York City time, on February 6, 2019, unless extended or terminated. Eligible holders that tender their existing notes at or prior to the early participation date (5:00 p.m., New York City time, on January 23, 2019, subject to extension) will be eligible to receive an early participation premium as part of their exchange consideration.
Liberty Mutual Announces New Limestone Re Ltd. Transaction
Liberty Mutual completed a new transaction utilizing the Limestone Re capital markets platform that provides approximately $150 million of collateralized reinsurance capacity for its U.S. property catastrophe program, as well as its U.S. homeowners and global property reinsurance businesses.  The transaction is comprised of $58 million of Bermuda Stock Exchange listed 2019-1 Notes issued by Limestone Re Ltd., a Bermuda domiciled segregated account company, with the remainder of the capacity provided via private placements.
 
"The Limestone Re platform continues to be an integral component of Liberty Mutual's strategy for accessing third-party capital," notes James Slaughter, Senior Vice President and Chief Underwriting Officer of Liberty Mutual's Global Risk Solutions strategic business unit.  "Liberty Mutual's global reach makes us uniquely positioned to provide insurance-linked securities (ILS) investors diversified pools of risk while bringing them as close as possible to the underlying insurance risks." 
 
According to Arno Gartzke, Vice President and Director of ILS, Liberty Mutual, the transaction successfully replaced the expiring Limestone Re 2016-1 placement. "Liberty Mutual remains committed to the ILS market and the continued support from our key partners, despite challenging market conditions, reaffirms the quality of risks which investors can access via Limestone Re."
Liberty Mutual is Conducting A Strategic Review of Pembroke
October 18, 2018 – Liberty Mutual Insurance announced today that it is undertaking a strategic review of its London-based Pembroke Managing Agency Limited, acquired through the lronshore purchase in May of 2017. The company has retained Evercore to serve as its adviser through the process.
 
Pembroke, headquartered in London with hubs in the US, Middle East and Asia, underwrites a portfolio of specialty insurance products through Lloyd's (Syndicate 4000) and company paper, including: property, liability, political risks, marine and energy, accident and health, agriculture, and select specialist lines. Pembroke is also a specialist provider of Lloyd's managing agency services to third party capital supported syndicates.
 
Liberty Mutual does not plan on providing additional details of the review until its completion.
Noteholder Information
Redesignation of Covered Debt for LMGI’s Series A & B Junior Subordinated Notes
​As described in the press release dated December 19, 2016, and pursuant to the replacement capital covenant dated March 7, 2007 (the “Covenant”), a Redesignation Date (as defined in the Covenant) has occurred. LMGI’s Series A Junior Subordinated Notes (the “Series A Notes”) became the Covered Debt (as defined in the Covenant) for the benefit of the holders of its Series B Junior Subordinated Notes (the “Series B Notes”) for purposes of the Covenant. The Series B Notes became the Covered Debt (as defined in the Covenant) for the benefit of the holders of the Series A Notes for purposes of the Covenant.

 
Notice is provided below pursuant to Section 3(c) of the Covenant. A copy of the Covenant is below and will also be made available on the Investor Screen (as defined in the Covenant) pursuant to the terms and conditions of the Covenant. (RCC Notice to Series A Holder) (RCC Notice to Series B Holder) (Replacement Capital Covenant )
Notice to Holders of LMGI’s Series C Junior Subordinated Notes
​As a result of the repurchase of principal of LMGI’s 10.75% Series C Junior Subordinated Notes, due 2088 (the “Series C Notes”) as described in the press release dated December 19, 2016, and pursuant to the replacement capital covenant dated March 7, 2007 (the “Covenant”), you are hereby notified that a Redesignation Date (as defined in the Covenant) occurred under the Covenant, and the Series C Notes ceased to be the Covered Debt (as defined in the Covenant) for purposes of the Covenant.

 
Notice is provided below pursuant to Section 3(c) of the Covenant. A copy of the Covenant is below and will also be made available on the Investor Screen (as defined in the Covenant) pursuant to the terms and conditions of the Covenant. (RCC Notice to Series C Holder)​ (Replacement Capital Covenant)
Liberty Mutual Group Inc. Discloses Over $108 million in Debt Repurchases
On December 19, 2016, Liberty Mutual Group Inc. ("LMGI") disclosed that from September 30, 2016 through December 19, 2016, LMGI repurchased $108,681,000 in principal of its 10.75% Series C Junior Subordinated Notes, due 2088 ("Series C Notes").  As of December 19, 2016, $67,766,000 in principal of the Series C Notes remained outstanding.

 
As a consequence of such repurchases, a Redesignation Date has occurred under that certain replacement capital covenant dated March 7, 2007 (the "Covenant") by LMGI in favor of and for the benefit of the Covered Debtholders (as defined in the Covenant) for the LMGI's Series A Junior Subordinated Notes (the "Series A Notes") and its Series B Junior Subordinated Notes (the "Series B Notes") issued under that certain indenture dated as of March 7, 2007 among LMGI, the guarantors named therein, and The Bank of New York Trust Company, N.A., as trustee. For purposes of the Covenant as of such Redesignation Date, (i) the Series A Notes are now the Covered Debt (as defined in the Covenant) for the Series B Notes and (ii) the Series B Notes are now the Covered Debt for the Series A Notes. (see press release)

Liberty Mutual Group Inc. Discloses Over $164 Million in Debt Repurchases
​​On September 27, 2013, Liberty Mutual Group Inc. (“LMGI”) disclosed that from June 30, 2013 until September 27, 2013, the company repurchased $151,893,000 in principal of its 10.75% Series C Junior Subordinated Notes, due 2088 (“Notes”). As of September 27, 2013, $364,353,000 in principal of the Notes remained outstanding. Further, LMGI has agreed to purchase an additional $12,725,000 in principal of the Notes subject to settlement. This information is being disclosed in connection with a potential private transaction (see press release).
 
Series C Junior Subordinated Notes - The Series C Junior Subordinated Notes have been provided the benefit of the Replacement Capital Covenant entered into by the Company on March 7, 2007 in connection with the issuance of $700,000,000 aggregate principal amount of the Company's Series A Junior Subordinated Notes and $300,000,000 aggregate principal amount of the Series B Junior Subordinated Notes. Please click here for additional information.

Note:

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​The entities that form the Liberty Mutual Group are private companies which have not registered under the Securities Act of 1933, as amended, and therefore are not subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended.  Accordingly, the group's entities do not file proxy statements, financials or other reports with the Securities and Exchange Commission.
 
Please refer to the link below for a cautionary notice concerning forward looking statements included on this website, and a discussion of the various factors that could cause an adverse effect on the business, operations and financial condition of the Liberty Mutual Group.  Forward Looking Statements and Risk Factors.
Disclaimer:
This site may contain information and news releases about Liberty Mutual Group. While this information was believed to be accurate as of the date prepared, Liberty Mutual Group disclaims any duty to update them. "Forward Looking Statements," as defined under the securities laws, are intended to fit within a "safe harbor" under U.S. securities laws and are subject to material risk factors that may or may not be disclosed on this site.
2017 Financial Results
How We Rate

​Financial Strength Ratings:
* A.M. Best Co. → 'A' (Excellent)
* Moody's → 'A2' (Good)
* Standard & Poor's → 'A' (Strong)

​Financial Strength Ratings:
* A.M. Best Co. → 'A' (Excellent)
* Moody's → 'A2' (Good)
* Standard & Poor's → 'A' (Strong)

Contact Us

​​​Investor Contact:
Edward Peña
Director, Investor Relations
Liberty Mutual Insurance
175 Berkeley St. M/S M04D
Boston, MA 02116
(857) 224-6655

Contact Investor Relations

Media Contact:
Richard Angevine
Public Relations Consultant
Liberty Mutual Insurance
175 Berkeley St. M/S M09G
Boston, MA 02116
(617) 574-6638

​​​Investor Contact:
Edward Peña
Director, Investor Relations
Liberty Mutual Insurance
175 Berkeley St. M/S M04D
Boston, MA 02116
(857) 224-6655

Contact Investor Relations

Media Contact:
Richard Angevine
Public Relations Consultant
Liberty Mutual Insurance
175 Berkeley St. M/S M09G
Boston, MA 02116
(617) 574-6638