Liberty Specialty Markets has rebranded its reinsurance division as Liberty Mutual Re and launched a reinsurance operation in Italy for the first time. The rebrand is effective immediately and encompasses all aspects of LSM’s reinsurance division, which 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.
In addition, Liberty Mutual Re’s US operation has started to write marine business for the first time.
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.”
Commenting on the rebranding, Dieter Winkel said: “By rebranding as Liberty Mutual Re, the sole treaty reinsurance business within Liberty Mutual Group, we can be very clear about the benefits that our financial strength offers while highlighting the breadth and depth of our offering. Our rebranding signals our intention to leverage the Liberty brand and emphasize the sheer strength of the balance sheet on which the Liberty Mutual Group is founded. This is just the start of the process.”
Massimiliano Fantini 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.
In the US, Scott Johnson, formerly with Munich Re, has been appointed to the lead Liberty Mutual Re’s newly launched marine account. He will report to James D’Onofrio, Liberty Mutual Re’s general manager for the US.