Liberty Mutual Insurance has announced a strategic restructuring of its Global Risk Solutions (GRS) business, with the introduction of a new insurance division, Liberty International Insurance (LII), to bring clarity, ease of access, and the full range of the company’s capabilities to clients and broker partners.
LII will streamline operations across Asia Pacific, Europe, Latin America, and the UK & MENA regions, combining brands such as Liberty Specialty Markets (LSM) and Liberty Insurance. The global insurer noted that LII will continue to go to market under its existing brands.
In Asia, the restructure brings together LSM and Asia Retail Markets, the business’s commercial and retail operations, to create a single unified strategy in the region.
Matthew Jackson (pictured left), who serves as Head of Asia for Liberty Specialty Markets, has been named President for LII. He will based in Singapore and report to Phil Hobbs, who was concurrently named President for the LII team globally.
Defne Turkes (pictured right), who serves as President of Asia Retail Markets, will take on the role of Chief Operating Officer for the new division. She will report to both Hobbs and Sue Figueredo Cook, the Chief Operating Officer of GRS.
Mike Abdallah, who established LSM’s Asia Pacific commercial insurance business 25 years ago, will continue in his role as President & Managing Director for Asia Pacific at Liberty Specialty Markets.
On the new structure, Hobbs commented, “With the formation of LII, we see significant potential for growth in prominent global markets and the opportunity to combine our strong commercial and retail understanding in Asia Pacific.”
Hobbs also praised the leadership team in Asia Pacific: “Matthew is well placed to oversee the next phase of our advancement in the region as we bring our Asia Pacific strategy and business under one leader.
Defne has significant experience running complex operations functions and has extensive knowledge of the market.
Mike has built a truly market-leading commercial business in Asia Pacific over the last two decades, based on a relentless focus on the needs of clients and broker partners in the region.”
