Job Losses As Liberty Mutual Restructures

Effective Aug. 1, Liberty Mutual is creating a new business unit. US Retail Markets will focus on personal and small commercial insurance lines in the US. The unit will be the largest multi-line small commercial insurer in the US. The company also announced major executive leadership appointments. 370 jobs will be lost in the US as a result of the restructuring. In June it announced it was selling Liberty Seguros S.A., Liberty Mutual’s personal lines and small commercial insurance business, to Generali. That sale includes Madrid-based Liberty Seguros’ operations in Ireland, Northern Ireland, Portugal and Spain. A newly formed enterprise function, Enterprise Transformation and Solutions will focus on unlocking scale advantages, and elevating collective data and data science capabilities.