Liberty Mutual Group Inc., a Boston insurance company, is consolidating its commercial markets specialty lines unit into a single operation.
The unit will bring together Liberty Mutual's umbrella and excess liability group, which provides broad coverage with lead capacity of up to $25 million, and its alternative programs, which provide products and services to group programs, single-parent and group captives, and workers' compensation excess buyers.
Liberty Mutual, which announced the consolidation Friday, was the sixth-largest property/casualty insurer in the country last year according to direct written premiums.
It had $85.5 billion of consolidated assets, $74.6 billion of consolidated liabilities, and $23.5 billion of annual consolidated revenue as of Dec. 31. Liberty Mutual's offerings include automobile, homeowners, workers' compensation, commercial multiple peril, general liability, global specialty, group disability, assumed reinsurance, and fire and surety coverage.
