November 14, 2011
Liberty Mutual Group, one of the largest property and casualty insurers in the world, today announced it has successfully completed the planned acquisition of Quinn's Irish insurance business, as well as the transfer of all existing Quinn Insurance employees to Liberty Mutual's new Irish company, which plans to trade under the name of Liberty Insurance. The company will continue to operate from existing offices in Cavan, Dublin and Enniskillen, with Cavan as the headquarters.
"We are pleased with this acquisition as it enables us to enter the Irish market as the economy begins to recover," said David H. Long, Liberty Mutual Group President and Chief Executive Officer. "We are also delighted to welcome our newest employees to the Liberty Mutual family and we look forward to their contributions to our success in Ireland and the United Kingdom."
The Board of Liberty Insurance in Ireland will be chaired by Edmund F. Kelly, Chairman of Liberty Mutual Group, and will include David H. Long, Liberty Mutual Group President and Chief Executive Officer, among other Liberty Mutual Boston executives and four independent, non-executive directors. Patrick O'Brien will be Chief Executive Officer of Liberty Insurance in Ireland and a member of the company's Board of Directors. Mr. O'Brien is an Irish citizen and a long-time executive with Liberty Mutual in Dublin and London.
Liberty Insurance plans to build on Quinn Insurance's position in the Irish market and provide enhanced services to appeal to a broader spectrum of Irish consumers, families and businesses. Building on a strong base in motor insurance, the new company will expand its offering of insurance products for all household and business assets and risks. Liberty Mutual has experience in Ireland through its existing Liberty International Underwriters operation in Dublin, which is dedicated to commercial and complex insurance risks.
About Liberty Mutual Group
"Helping people live safer, more secure lives" since 1912, Boston-based Liberty Mutual Group is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on A.M. Best Company's report of 2010 net written premium. The Group also ranks 82nd on the Fortune 100 list of largest corporations in the U.S. based on 2010 revenue. As of December 31, 2010, Liberty Mutual Group had $112.4 billion in consolidated assets, $95.4 billion in consolidated liabilities, and $33.2 billion in annual consolidated revenue.
Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty Mutual Group (www.libertymutualgroup.com) employs over 45,000 people in more than 900 offices throughout the world.
Contact:
Adrianne Kaufmann
617-574-5983
Adrianne.kaufmann@libertymutual.com
