Insurer wrote £109.8m
in the regions last year
A focus on the UK
mid-market helped insurer Liberty Mutual to grow its regional commercial book
by 33% last year.
Its regional
branches in London, Birmingham, Bristol, Manchester, Leeds, Glasgow and Dublin
helped it boost gross written premium (GWP) to £109.8m in 2012 (2011: £82.3m).
Liberty’s
regional offices are designed to handle mid-market business with turnover up to
£500m, with underwriters working out of each branch.
It aims to write
a minimum premium of £20,000 and its distribution strategy is focused on
dealing with 185 brokers.
“Our brokers deal
with underwriters who understand the needs and complexities of their clients.
We have the skills to build a bespoke product tailored to our customer
requirements,” general manager for the regions Neil Findley told Insurance
Times.
Liberty also
gives brokers online access to its claims tracking system.
“Our brokers are
energised by the Liberty proposition, which integrates our underwriters, claims
teams, risk engineers and business development staff. We work closely with our
partners to assist their growth strategies. They are growing, and so are we,”
Findley said.
GWP from its
London market operations grew 10.7% to £261.3m GWP.
Building profile
Liberty Mutual
announced a deal to sponsor cricket test match grounds in May in a bid to raise
the brand’s profile in the UK.
“We knew it would
take time to build our profile with our broker partners so that their
client-facing personnel became more aware of the Liberty proposition. Before
this, we may have been held back by a lack of brand awareness,” Findley
said.
It has
entertained 330 brokers at cricket matches since May, including a dinner at
Lord’s with ex-England captain Andrew Strauss.
Last month
Liberty merged its Lloyd’s syndicate, its UK-based European operations and US
reinsurance business into a single unit called Liberty Specialty Markets.
Source: www.insurancetimes.co.uk
Source: www.insurancetimes.co.uk
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