Liberty Mutual Group, more commonly known by the name of its primary line of business Liberty Mutual, is a diversified global insurer and the third largest property and casualty insurer in the United States based on 2010 net written premium. It is the 82nd company on the Fortune 500 list for 2011. Based in Boston, Massachusetts, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2010, Liberty Mutual Group had $112.35 billion in consolidated assets, $95.4 billion in consolidated liabilities, $17.0 billion in policyholders' equity, and $33.2 billion in annual consolidated revenue. The company, founded in 1912, offers a wide range of insurance products and services, including personal automobile, homeowners, workers’ compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire and surety.
LMG owns, wholly or in part, local insurance companies in Argentina, Brazil, Chile, China (including Hong Kong), Colombia, India, Ireland, Poland, Portugal, Singapore, Spain, Thailand, Turkey, Venezuela,Vietnam, and Russia.
The current CEO is David H. Long, who succeeded his predecessor Edmund (Ted) F. Kelly on June 29, 2011. Ted Kelly was appointed CEO in 1998.
Read more about Liberty Mutual: History, Liberty Mutual Research Institute For Safety, Subsidiaries
Famous quotes containing the words liberty and/or mutual:
“This spending of the best part of one’s life earning money in order to enjoy a questionable liberty during the least valuable part of it reminds me of the Englishman who went to India to make a fortune first, in order that he might return to England and live the life of a poet. He should have gone up garret at once.”
—Henry David Thoreau (1817–1862)
“Rules and particular inferences alike are justified by being brought into agreement with each other. A rule is amended if it yields an inference we are unwilling to accept; an inference is rejected if it violates a rule we are unwilling to amend. The process of justification is the delicate one of making mutual adjustments between rules and accepted inferences; and in the agreement achieved lies the only justification needed for either.”
—Nelson Goodman (b. 1906)