Liberty Mutual Reinsurance (LM Re), a division of Liberty Mutual Insurance Group, has announced the launch of its Australian reinsurance operation, LM Re Australia.
The reinsurer said the move signifies its expansion in the Australasian market, replacing the ARUS managing general agent that previously managed LM Re’s portfolio in the region through Lloyd’s.
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LM Re has named Mark De La Mare as the head of Australia and New Zealand.
De La Mare will take on the new responsibility from October 2024, reporting to head of property for London James Green and chief operating officer for Asia-Pacific John McCabe.
His role is expected to be central to LM Re’s strategy for the region, leading the underwriting team based in Sydney.
With more than 15 years of reinsurance experience, De La Mare’s expertise spans catastrophe risk modelling and strategic reinsurance placements.
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By GlobalDataHis professional history encompasses a variety of reinsurance classes in both the London and Asia-Pacific markets.
De La Mare’s previous role was head of property, Australia, at Aon’s Reinsurance Solutions.
Green said: “We are very pleased indeed to welcome Mark to LM Re to develop and strengthen the local reinsurance presence we have built in the region. Mark’s deep industry knowledge and experience will be invaluable as we strengthen our operations in Australia and New Zealand.
“We also extend our sincere gratitude to John Bubb and Richard Wareham for their 14 years of exceptional service at ARUS and contributions to our business. Their efforts have laid a strong foundation upon which Mark will build, ensuring a seamless transition and continued excellence in service delivery.”
Earlier this year, Liberty Specialty Markets, another division within the group, appointed Anabella Frontado as the head of war & terrorism for the Latin American markets.
