Liberty Mutual

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.

The Massachusetts Bay Transportation Authority claims the firms failed to act over the bankruptcy of LMH-Lane Cabot Yard Joint Venture.

Claims analysis shows slow reactions to negative trends can affect several quarters, but carriers who emerge strong will be able to pursue growth faster than the competitors who are always playing catchup on loss cost trends.