Liberty Mutual
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The BMC-IBM judgment was insured for about $700mn on a heavily co-insured tower of around $1bn. -
The Insurance Insider US news team runs you through the earnings results for the day.
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The product was made through a partnership with technology provider Safehub.
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Chres Lee was previously M&A counsel for Liberty Global Transaction Solutions.
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Based in Miami, the executive has worked at Liberty Mutual for nearly 13 years.
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The company has no immediate plans to re-deploy proceeds from recent sales in Europe and LatAm.
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The company provides reinsurance to insurers in LatAm and the Caribbean.
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The carrier laid off approximately 850 staff late last year.
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As part of Liberty Specialty Markets, John Krupczak will report to Manuel Moreno.
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In his new role Bolaños will report to both Matthew Moore, Liberty Global Risk Solutions (GRS) president of underwriting, and to Phil Hobbs, LSM president and MD.
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In this new role, she will manage cyber product and underwriting strategy across the globe, reporting to Matthew Hogg, global product leader, cyber.
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It is understood that the cuts are based on a review of five-year loss ratios, and that agents above 70% will be impacted.
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