Changes Drive Focus on Strategic Markets, Improved Profitability and Faster Innovation
BOSTON (July 13, 2023) - Liberty Mutual Insurance President and Chief Executive Officer Tim Sweeney today announced key organizational changes and executive leadership appointments aimed at enhancing focus on long-term strategic markets, while better leveraging scale advantages to drive improved profitability and faster innovation.
“As we continue to operate in a world of profound and accelerating change, we remain committed to keeping our promises and delivering exceptional value to our customers, agents, brokers and partners,” said Sweeney. “Ongoing optimization of our product portfolio and global footprint, coupled with investment in new, innovative capabilities will ensure we achieve sustained success.”
Effective August 1, organizational changes and executive leadership appointments include:
- US Retail Markets (USRM) is a newly formed business unit that will deepen the company’s longstanding focus on personal and small commercial insurance lines in the US. The unit, which represents the sixth-largest personal auto insurer, the third-largest home insurer and the largest multi-line small commercial insurer in the US, with net written premiums of nearly $30 billion in 2022, will be led by Hamid Mirza, President, USRM.
Mirza previously served as President, Global Retail Markets (GRM) US, and will report to Sweeney.
- Asia Retail Markets, the company’s personal and small commercial insurance business in the region, will join Global Risk Solutions (GRS), Liberty Mutual’s global commercial and specialty division. This alignment brings together the company’s personal, commercial, specialty lines and reinsurance operations in Asia to create a unified strategy and leverage scale. Phil Hobbs, President and Managing Director, Liberty Specialty Markets, will oversee the company’s international insurance footprint. Defne Turkes will continue in her role as President, Asia Retail Markets, reporting to Hobbs.
Hobbs continues to report to Neeti Bhalla Johnson, President, GRS.
- Enterprise Transformation and Solutions is a newly formed enterprise function that will lead the company’s efforts to drive expense improvement and operational excellence, deliver efficient and effective solutions that unlock scale advantage, and elevate collective data and data science capabilities to drive better, faster differentiating insights and actions. The function will be led by Jim MacPhee, who has been named Chief Operating Officer, Liberty Mutual.
MacPhee previously served as President, GRM, and will continue to report to Sweeney.
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About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people and businesses feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the fifth largest global property and casualty insurer based on 2022 gross written premium. We also rank 86 on the Fortune 100 list of largest corporations in the US based on 2022 revenue. As of December 31, 2022, we had $50 billion in annual consolidated revenue.
We employ over 50,000 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, and commercial property.
For more information, visit www.libertymutualinsurance.com.
Contact: Liberty Mutual Media Relations
