Liberty Mutual Insurance today announced the creation of a new “Limestone Capital Markets” platform, with an inaugural multi-year collateralized reinsurance transaction led by the newly-formed Bermuda domiciled segregated account company, Limestone Re Ltd. The Limestone platform has been capitalized with approximately $160 million of investors’ capital and provides an opportunity for investors that includes risks from U.S. property catastrophe, U.S. homeowners and London Market specialty insurance.
James Slaughter, Liberty Mutual Senior Vice President and Director, Global Reinsurance Strategy, stated "The creation of the Limestone platform is a key strategic initiative for Liberty Mutual. This transaction demonstrates investors’ interest in both traditional property catastrophe reinsurance risks as well as insurance risks including homeowners, marine and other global specialty insurance lines. The Limestone platform demonstrates Liberty Mutual’s ability to leverage our unique global underwriting and distribution platform as we bring capital markets investors as close as possible to the underlying risks.”
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
Liberty Mutual is a diversified insurer with operations in 29 countries and economies around the world. We rank 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. As of December 31, 2015, Liberty Mutual had $37.6 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in over 800 offices throughout the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more about us by visiting www.libertymutualinsurance.com.
Contacts:
John Cusolito
john.cusolito@libertymutual.com
617-877-6991
Adrianne Kaufmann
adrianne.kaufmann@libertymutual.com
617-574-5983
