Liberty Mutual

The unit will be led by GRS insurance solutions president Liz Geary, until the appointment of a global head of cyber, who will report to her.

In this newly created position, Korte will report to GRS NA CUO Brandon Fick.

In his new position, the executive will report to GRS North America specialty president Matt Dolan.

Increased interest rates and unfavorable market conditions led to reduction in capital issuance activity in the P&C insurance industry in 2022.

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The Boston-headquartered mutual is understood to have recently pitched potential acquirers of the LatAm assets.

In her new role, Sutton will report to GRS COO Susanne Figueredo Cook and GRS North America president Kevin Smith.

The carrier is reportedly looking to sell its operations in Spain, Portugal and Ireland.

The appointment completes the CUO team at Liberty Mutual’s Global Risk Solutions office of underwriting.

The proportion of notifications reporting high severity ($10mn+) remains unchanged at 9%, according to the report.

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The increases were driven by higher US non-cat losses, primarily due to personal auto, personal property and business lines, as well as higher current-year losses in global risk solutions.