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Liberty Mutual Insurance Co. is realigning its excess casualty operations and increasing its capacity for the business to $100 million effective Jan. 1, 2019, the insurer announced Tuesday.
Starting next year, all admitted excess casualty business for retail policyholders will be underwritten by Liberty Mutual, and all nonadmitted excess casualty business and admitted and nonadmitted wholesale business will be underwritten by Ironshore Inc., a Liberty Mutual statement said.
“Our realignment provides excess casualty brokers and buyers with a simplified structure, consistent appetite and higher capacity,” said Doug Manwaring, head of excess casualty, Liberty Mutual National Insurance, in Fairfield, Ohio.
Both Liberty Mutual National and Ironshore will increase their excess casualty business to $100 million from $50 million, a Liberty Mutual spokesman said.
The move is one of several changes Liberty Mutual has made to its commercial underwriting operations since the purchase of Ironshore in May 2017. Last week, the insurer restructured its commercial and specialty insurance leadership.
Liberty Mutual Insurance Co. said Monday it will buy Ironshore Inc. from Chinese conglomerate Fosun International Ltd. for about $3 billion.