Liberty Mutual has launched a financial risk solutions unit to better serve credit and political risk brokers and buyers.

Liberty Mutual’s Global Risk Solutions (GRS) strategic business unit joined two areas that independently provided credit and political risk products into a single global product line – Financial Risk Solutions.

The new unit, based in London and with global reach, is led by Peter Sprent, Liberty Specialty Markets (LSM) Financial Risk Solutions head.

LSM president Matthew Moore said: “Joining credit and political risk experts from Liberty Specialty Markets and Ironshore into a single, global operation makes it easier for brokers and buyers to access sophisticated solutions from a financially strong carrier.

“The creation of Financial Risk Solutions best positions us to deliver our goals of enhancing our market capabilities to grow in the credit and political risk markets, and providing better solutions to our customers in a consistent and coordinated way via our teams around the world – from better access and clarity, to enhanced global solutions and best-in-class claims services.”

The Liberty Specialty Markets credit and political risk claims team, led by LSM Chief Claims Officer Mike Gillett, will oversee claims for the combined unit with immediate effect.

The launch of Financial Risk Solutions does not change the current contacts credit and political risk brokers and customers have at Liberty Mutual.

Sprent said: “While we work to transition towards an integrated global team, brokers and customers should continue to approach the existing teams on a ‘business as usual’ basis.

“The goal is to optimize our organizational structure by creating a fully integrated team that best aligns with, and supports, our brokers and customers.”

Source: Company Press Release.

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