Liberty Mutual Insurance Investor Relation

Liberty Mutual Insurance

On July 17, 2014, Liberty Mutual Insurance reached a definitive agreement with National Indemnity Company (“NICO”), a subsidiary of county Hathaway opposition., on a combined mixture adverse development protect well all of Liberty Mutual Insurance’s U.S. employees compensation, amphibole and environmental liabilities, attaching at about $12.5 billion of combined mixture reserves with associate mixture limit of $6.5 billion and sublimits of $3.1 billion for amphibole and environmental liabilities and $4.507 billion sure as shooting employees compensation liabilities.

At the closing of this dealings nowadays, however effective as of January one, 2014, Liberty Mutual Insurance ceded about $3.3 billion of existing liabilities beneath a retroactive insurance agreement. NICO can give about $3.2 billion of further mixture adverse development cowl. Liberty Mutual Insurance paid NICO total thought of roughly $3.0 billion.

The agreement covers Liberty Mutual Insurance’s doubtless volatile U.S. amphibole and environmental liabilities arising beneath policies of insurance and insurance with effective dates before January one, 2005, yet as industrial Insurance’s employees compensation liabilities as respects injuries or accidents occurring before January one, 2014.

NICO can assume responsibility for claims handling associated with Liberty Mutual Insurance’s amphibole and environmental claims. Liberty Mutual Insurance can still handle all employees compensation claims.

"We believe that this agreement additional strengthens our money position because it eliminates a considerable supply of uncertainty in these liabilities and permits North American nation to concentrate on execution in our core businesses,” aforesaid David H. Long, Liberty Mutual Insurance Chairman and Chief officer.

This dealings are going to be accounted for as retroactive insurance in Liberty Mutual Insurance’s aggregation consolidated money statements and leads to a pre-tax loss of roughly $130 million as of the effective date, which is able to be enclosed in third quarter results.

Liberty Mutual Insurance Enters Into Agreement to Sell Summit Holding Southeast, Inc. to yank money cluster
On January nine, 2014, Liberty Mutual Insurance reached a definitive agreement to sell Summit Holding Southeast, Inc. and its connected firms (together, “Summit”) to yank money cluster (NYSE/NASDAQ: AFG) in associate all-cash dealings (see full posting  ).

Liberty Mutual cluster opposition. problems further $400 Million of four.25% Senior Notes, due 2023
On November 5, 2013, Liberty Mutual cluster opposition. (“LMGI” or the “Company”) settled the supply of $400 million of four.25% Senior Notes, due 2023 (the “Notes”).  The Notes issued represent a reopening of the $600 million mixture principal quantity of the Notes that the corporate issued on Gregorian calendar month eighteen, 2013. yield of the reopening ar expected to be wont to finance recent debt repurchases and for general company functions ( see release  ).

Liberty Mutual cluster opposition. Discloses Over $164 Million in Debt Repurchases
On September twenty seven, 2013, Liberty Mutual cluster opposition. (“LMGI”) disclosed that from Gregorian calendar month thirty, 2013 till September twenty seven, 2013, the corporate repurchased $151,893,000 in principal of its ten.75% Series C Junior Subordinated Notes, due 2088 (“Notes”).  As of September twenty seven, 2013, $364,353,000 in principal of the Notes remained outstanding. Further, LMGI has in agreement to get an extra $12,725,000 in principal of the Notes subject to settlement.  This data is being disclosed in reference to a possible personal dealings ( see release  ).

Liberty Mutual Insurance cluster Announces SBU Realignment
On July 24, 2012, Liberty Mutual Insurance cluster declared the realignment of its Strategic Business Units into four new units. this transformation is intended to form it easier for agents and customers to try to to business with North American nation.  It additionally can enable North American nation to higher leverage our scale and experience by spreading best practices and investments in product, services and innovation across the worldwide enterprise. we have a tendency to ar realigning our Strategic Business Units into four new SBUs effective immediately:

Commercial Insurance can serve ancient property and casualty accounts of all sizes and can give one face to the agent/broker community. industrial Insurance will embody Summit and cluster advantages.
Personal Insurance can embody all domestic personal lines business.  Liberty Mutual and Safeco brands and product are going to be maintained, and distribution channels can still be managed severally.  Personal Insurance will embody our Individual Life business.
Global Specialty can embody Liberty International Underwriters, Liberty Mutual insurance and Liberty Mutual Surety.
Liberty International can comprise native country operations.


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