![]() In its quest to focus on core businesses, the company announced in June it was selling Madrid-based Liberty Seguros S.A., Liberty Mutual’s personal lines and small commercial insurance business, to Generali for €2.3 billion ($2.5 billion). MacPhee previously served as president, GRM, and will continue to report to Sweeney. The function will be led by Jim MacPhee, who has been named chief operating officer, Liberty Mutual. Enterprise Transformation and Solutions is a newly formed enterprise function that will lead the company’s efforts to drive expense improvement and operational excellence, deliver efficient and effective solutions that unlock scale advantage, and elevate collective data and data science capabilities to drive better, faster differentiating insights and actions.The remaining non-US GRM business, in Asia, will now align with the company’s other commercial and specialty business in that geography under the GRS business unit. Hobbs continues to report to Neeti Bhalla Johnson, president, GRS. Defne Turkes will continue in her role as president, Asia Retail Markets, reporting to Hobbs. Phil Hobbs, president and managing director, Liberty Specialty Markets, will oversee the company’s international insurance footprint. This alignment brings together the company’s personal, commercial, specialty lines and reinsurance operations in Asia to create a unified strategy and leverage scale. Asia Retail Markets, the company’s personal and small commercial insurance business in the region, will join Global Risk Solutions (GRS), Liberty Mutual’s global commercial and specialty division.The new USRM business unit succeeds Global Retail Markets (GRM) which is discontinued following the planned divestments of that business in Latin America and Western Europe, the representative explained. “Each impacted employee has been encouraged to apply for other positions within the organization or will receive severance and outplacement assistance.” “As a result of this change, approximately 370 positions US-wide, which represents less than 1% of our global workforce, have been eliminated across all functions, many of which are effective by the end of September,” said a Liberty Mutual Insurance representative in an emailed statement. Mirza previously served as president, Global Retail Markets (GRM) US, and will report to Sweeney. The unit, which represents the sixth-largest personal auto insurer, the third-largest home insurer and the largest multi-line small commercial insurer in the US, with net written premiums of nearly $30 billion in 2022, will be led by Hamid Mirza, president, USRM. ![]() US Retail Markets (USRM) is a newly formed business unit that will deepen the company’s longstanding focus on personal and small commercial insurance lines in the US.
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