Liberty Mutual

Kim Garland is currently senior vice president of personal and commercial lines and managing director of venture capital fund State Auto Labs.

Liberty Mutual has appointed Adam Pancoast to lead the excess and surplus (E&S) primary casualty business at Ironshore, to help spearhead growth in the E&S casualty market.

The Boston insurer cut the underlying loss ratio in its Global Risk Solutions by 6.5 points, which was more than offset by the jump in cats.

Based in Chicago, the executive will report to global risk solutions president Mike Fallon.

Trucking companies, having already increased self-insured retentions by millions, will need to contend with further rate increases into 2024.

With predicted $20bn in losses, KBW doesn’t see meaningful change to the rate increase trajectory.

The newcomers are finding it more difficult to disrupt the sector than they had expected.

The broker’s panel includes Chubb, Hiscox, Liberty, Markel, and Travelers.

Net income grew to $769mn as pre-tax net investment rocketed to $1.4bn and catastrophe claims fell to $660mn from $878mn last year.

The division provides cover to personal lines customers and small businesses in the US under the Liberty Mutual and Safeco Insurance brands.

While the pandemic offered some relief to commercial auto insurers, maintaining margins will be tricky to achieve given rate moderation.

The merged AmGeneral and Liberty Insurance Berhad operations will create the largest auto insurer and second-largest P&C insurer in Malaysia.