Liberty Mutual to cut 370 jobs in personal, small commercial revamp
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Liberty Mutual Insurance Co. will cut about 370 U.S. positions in a reorganization of its personal lines and small commercial insurance business that follows the recent sale of units in Europe and Latin America.
In a statement Friday, the insurer said that effective Aug. 1 its U.S. personal and small commercial insurance business would operate out of its newly formed U.S. retail markets unit. The unit writes nearly $30 billion in premium. It will be headed by Hamid Mirza, who previously was president of global retail markets, which has been disbanded.
Asian personal and small commercial business will be housed in its Asia retail markets unit, along with specialty lines and reinsurance operations in the region. Defne Turkes will continue in her role as president of Asia retail markets, the statement said.
In addition, the insurer formed an enterprise transformation and solutions function, which will look to improve efficiency and operations, the statement said. Jim MacPhee, who was president of global retail markets, will head the function as chief operating officer of Liberty Mutual.
Last month, Liberty Mutual announced it was selling its Spanish unit to Italian insurer Assicurazioni Generali SpA. In May, it announced the sale of units in Chile, Brazil, Ecuador and Colombia to German insurer Talanx A.G.
