Liberty Mutual Is Conducting A Strategic Review Of Pembroke

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Oct 18, 2018, 07:30 ET

BOSTON, Oct. 18, 2018 /PRNewswire/ -- Liberty Mutual Insurance announced today that it is undertaking a strategic review of its London-based Pembroke Managing Agency Limited, acquired through the lronshore purchase in May of 2017. The company has retained Evercore to serve as its adviser through the process.

Pembroke, headquartered in London with hubs in the US, Middle East and Asia, underwrites a portfolio of specialty insurance products through Lloyd's (Syndicate 4000) and company paper, including: property, liability, political risks, marine and energy, accident and health, agriculture, and select specialist lines. Pembroke is also a specialist provider of Lloyd's managing agency services to third party capital supported syndicates.

Liberty Mutual does not plan on providing additional details of the review until its completion.

About Liberty Mutual Insurance

Liberty Mutual is the fifth largest property and casualty global insurer based on 2017 gross written premium, with nearly 50,000 employees in 30 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care. We achieve this by offering a full range of personal, commercial, and specialty property and casualty insurance coverages. Our customers' trust has earned us the 68th spot on the Fortune 100 list of largest corporations in the U.S., based on 2017 revenue. You can learn more about us by visiting www.libertymutualinsurance.com.

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SOURCE Liberty Mutual Insurance