July 03, 2018
Liberty Specialty Markets (LSM) has rebranded its reinsurance division as Liberty Mutual Re, as well as launching an Italian reinsurance operation.
Until now, the reinsurance business was simply known as the reinsurance unit under the brand LSM, but the company said that rebranding positions it as the sole treaty reinsurance business within Liberty Mutual Group.
The reinsurance division employs 180 people in 14 locations.
In addition, the carrier has appointed Massimiliano Fantini to lead its newly-launched Italian reinsurance operation, which will be based out of Rome and Milan and will begin trading immediately.
Fantini joins from Guy Carpenter where he served as the reinsurance broker’s Italian country manager for the past five years.
Prior to that, he spent 15 years at Swiss Re Italy, rising to the position of CFO before he left.
Liberty’s Italian reinsurance team will write property, casualty and specialty business with Fantini assuming the position of Liberty Mutual Re’s general manager reinsurance for Italy.
Meanwhile, the carrier also announced that it has begun to write US marine reinsurance business for the first time, appointing Scott Johnson to lead the new marine account as assumed reinsurance underwriting manager of ocean marine.
Johnson moves over from Munich Re, where most recently he held the position of vice president of marine and offshore energy having joined the reinsurer in 2006.
In his new role, Johnson will report to James D’Onofrio, Liberty Mutual Re’s general manager for the US. He will be based in the Stamford office.
Commenting on the rebranding, Dieter Winkel, president of Liberty Mutual Re, said: “By rebranding as Liberty Mutual Re, the sole treaty reinsurance business within Liberty Mutual Group, we can be very clear about the benefits that our financial strength offers while highlighting the breadth and depth of our offering,
“Our rebranding signals our intention to leverage the Liberty brand and emphasize the sheer strength of the balance sheet on which the Liberty Mutual Group is founded. This is just the start of the process.”
He added: “The launch of our Italian business is a key step in our plans to grow Liberty Mutual Re’s business. We’re extending our global footprint while building on the close relationships we’ve already developed with clients and brokers in Italy.”