In Asia-Pacific, Liberty Mutual has been operating dual businesses for more than two decades. Credit: JHVEPhoto/Shutterstock.

Liberty Mutual Insurance has unveiled enhancements to its Global Risk Solutions (GRS) unit to consolidate its position in crucial international markets, particularly in the Asia-Pacific region.

As part of the restructuring, GRS has introduced a new international insurance business division, Liberty International Insurance, to streamline operations and offer comprehensive services to clients and brokers.

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The formation of the new global division is a key move in the ongoing transformation of GRS, which is Liberty Mutual’s global commercial and specialty reinsurer and international insurance business.

This new division will operate under existing brands such as Liberty Specialty Markets (LSM) and Liberty Insurance across the Asia-Pacific, Europe, Latin America and UK & MENA regions.

Phil Hobbs, who currently serves as president and managing director at LSM, will take on the role of president for Liberty International Insurance.

In Asia-Pacific, LSM and Liberty Insurance are merging to form a unified strategy.

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This region has seen Liberty Mutual operating dual businesses for more than two decades, with Liberty Insurance catering to personal and small and medium-sized commercial markets and LSM providing commercial and specialty insurance.

Matthew Jackson, presently head of Asia for LSM, will become president of Liberty International Insurance, Asia-Pacific.

The leadership for Liberty International Insurance’s other regions includes Kadidja Sinz as president for Europe, Manuel Moreno as president for the US and Latin America, and Luis Prato as president for the UK & MENA.

They will continue to report to Hobbs.

In addition to the international restructuring, Liberty Mutual Surety is undergoing organisational changes within the US to enhance global brokerage and customer services.

Tim Mikolajewski, president of global surety, will maintain leadership of these operations, which are set to offer increased product expertise and value-added services to surety customers worldwide.

Hobbs added: “With the formation of Liberty International Insurance, we see significant potential for growth in prominent global markets and the opportunity to combine our strong commercial and retail understanding in Asia-Pacific.

“This region is projected to be one of the largest P&C insurance markets in the world in the coming years, driven by favourable demographic trends, ongoing infrastructure investments and increasing insurance penetration.”