Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has launched in Australia.
The new entity replaces the ARUS MGA, which previously managed LM Re’s Australasia portfolio through Lloyd’s, the company said in a statement.
Aligned with the launch, Mark De La Mare has been appointed Head of Australia and New Zealand for LM Re, effective from October 2024.
De La Mare joins from Aon’s Reinsurance Solutions, where he was Head of Property for Australia. He will lead the LM Re underwriting team based in Sydney, and report to James Green, Head of Property, London, and John McCabe, Chief Operating Officer for Asia Pacific.
“The new team will continue the build out of Liberty’s existing business in Australia, and demonstrates our commitment and continuity to our clients, aligning with LM Re’s goal to provide direct and customised reinsurance solutions to our key markets,” Liberty Mutual said.
De La Mare brings over 15 years of experience in the reinsurance sector, with expertise in catastrophe risk modelling and strategic reinsurance placements. He has worked across various classes of reinsurance in both the London and APAC markets.
Green commented on his appointment, saying, “We are very pleased indeed to welcome Mark to LM Re to develop and strengthen the local reinsurance presence we have built in the region.
Mark’s deep industry knowledge and experience will be invaluable as we strengthen our operations in Australia and New Zealand.”
Green also acknowledged the contributions of John Bubb and Richard Wareham.
“We also extend our sincere gratitude to John Bubb and Richard Wareham for their 14 years of exceptional service at ARUS and contributions to our business,” Green said. Their efforts have laid a strong foundation upon which Mark will build, ensuring a seamless transition and continued excellence in service delivery,” he added.
