Liberty launches Italian reinsurance unit with Guy Carpenter hire
Liberty Specialty Markets (LSM) has rebranded its reinsurance division as Liberty Mutual Re and launched a reinsurance operation in Italy for the first time.
LSM offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US and other international locations. The reinsurance division incorporates 180 people in 14 locations.
The newly-named business has created a local Italian operation based in Rome and Milan, which will begin trading immediately. Headed by Massimiliano Fantini, who joins from Guy Carpenter Italy, Liberty’s Italian reinsurance team will write property, casualty and specialty business. Fantini becomes Liberty Mutual Re’s general manager reinsurance for Italy. He was Guy Carpenter’s country manager for Italy for five years and was previously chief financial officer for Swiss Re Italy, where he spent 15 years in total.
Dieter Winkel, president of Liberty Mutual Re, said: “The launch of our Italian business is a key step in our plans to grow Liberty Mutual Re’s business. We’re extending our global footprint while building on the close relationships we’ve already developed with clients and brokers in Italy.
“In Massimiliano Fantini, we have found a talented and highly-respected reinsurance professional to lead our Italian team. He also brings with him a wealth of contacts and local knowledge, which will be extremely valuable as we reach out to the Italian market. Massimiliano’s mission is to provide a first-class service to Italian insurance companies, with a complete range of reinsurance products both on a proportional and non-proportional basis.”
Liberty Mutual Re’s US operation is also starting to write marine business for the first time.
Make sure you are GDPR compliant and confirm your email address to keep getting our daily emails
More of today's news
Swiss Re expands German commercial insurance business
Greenlight Capital suffers fresh losses
Sun Life CEO seeks M&A targets with $2.2bn fund
Marsh snaps up construction specialist
Aegon expands insurance partnership with Santander in Spain
Pool Re appoints chief strategy, communications officer
Lloyd's broker AFL buys MGA Concordia stake in expansion move