Liberty Mutual
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David Long said the carrier would continue efforts to foster dialogue on race. -
The carrier is in the early stages of marketing a US construction defects book and a UK motor portfolio.
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Celerity will write public and private D&O business for the wholesale insurance market.
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The capital raise was led by Gravitas Securities.
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The US mutual giant joins existing PRI signatories Munich Re, Swiss Re, MS&AD and Mapfre.
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The US carrier has offloaded a tranche of liability business written out of London.
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Claims from events including Hurricane Laura and West Coast wildfires more than doubled total cat losses from a year earlier.
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The former Ironshore International CEO was most recently chief client officer of Liberty Mutual’s Global Risk Solutions.
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The rideshare company has also deepened its existing partnership with Progressive.
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Marc Orloff will take over from Shaun Kelly, who has left the company.
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Large deals between $500mn and $1bn, and those over $1bn, accounted for the lowest proportion of claims paid by the carrier.
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Kelly Killimett joins from the Bermudian carrier’s Colony Specialty Insurance business.
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