BOSTON (April 11, 2024) – Liberty Mutual Insurance today released its 2023 Purpose & Impact Report, outlining the company’s progress in advancing customer resilience, enabling sustainable growth, and supporting people and communities. The report, which is an evolution of previously separate Giving and Sustainability Reports, details how Liberty Mutual is acting on its purpose to help people and organizations embrace today and confidently pursue tomorrow.
As one of the largest global property and casualty insurers, Liberty Mutual recognizes the vital role insurance plays in a resilient economic system. Through a wide range of insurance products and services, the company is uniquely positioned to mitigate risk, offer protection, and support recovery, so individuals, businesses and communities can confidently plan for the future.
In 2023, Liberty Mutual brought purpose to life for employees, customers, partners, and communities by:
- Formally launching the GRS Global Cyber Office and multi-year cyber strategy.
- Continuing momentum with the Liberty Mutual Climate Transition Center to advance the collective understanding of climate-related risks, impacts, and resilience.
- Launching an internal climate education initiative with 300 leaders to continue to embed climate knowledge within the company.
- Providing parametric coverage for a national fund that supports non-insured or under-insured people in Morocco to increase the speed of recovery efforts following an earthquake.
- Creating a Head of Impact and Sustainable Investments position to oversee our impact investing strategy.
- Beginning a partnership with SBP, a U.S.-based national disaster recovery and resilience organization, to fund resilience fellows who will help communities access federal funds for disaster preparedness.
- Supporting employee development through 46,000 hours of self-assigned eLearning courses, 36,000 hours of LinkedIn Learning and 7,300 hours of instructor-led learning.
- Donating $65,000,000 to over 600 nonprofit organizations across the U.S.
- Volunteering more than 137,000 hours of employee service globally.
Liberty Mutual also published its annual Task Force on Climate-Related Financial Disclosures (TCFD) report, which features more information on its climate strategy.
To learn more about Liberty Mutual’s purpose, visit https://www.libertymutualgroup.com/about-lm/our-purpose/purpose-and-impact-report.
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About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people 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, 2023, we had $49.4 billion in annual consolidated revenue.
We employ over 45,000 people in 27 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: mediarelations@libertymutual.com
