Liberty Mutual
Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the world. It ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue. Based in Boston, Massachusetts, and featuring the Statue of Liberty (formally Liberty Enlightening the World) on its logo, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2021, Liberty Mutual Insurance had $156.043 billion in consolidated assets, $128.195 billion in consolidated liabilities and $48.2 billion in annual consolidated revenue.
Liberty Mutual's logo, featuring the Statue of Liberty, and its headquarters at 175 Berkeley Street in Boston | |
| Company type | Mutual. Private |
|---|---|
| Industry | Insurance |
| Founded | July 1, 1912 (as Massachusetts Employees Insurance Association) |
| Headquarters | , |
Area served | Worldwide |
Key people | Timothy M. Sweeney (President and CEO) |
| Services | Property and Casualty Insurance |
| Revenue | $48.2 billion (2021) |
| $1.282 billion (2019) | |
| $3.068 billion (2021) | |
| Total assets | $156.043 billion (2021) |
| Total equity | $27.848 billion (2021) |
Number of employees | 45,000+(2021) |
| Website | libertymutualgroup libertymutual |
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 insurance and surety.
Liberty Mutual Group owns, wholly or in part, local insurance companies in Brazil, Chile, China (including Hong Kong), Colombia, Ecuador, India, Ireland, Malaysia, Portugal, Singapore, Spain, Thailand, the United Kingdom, and Vietnam.
In the United States, Liberty Mutual remains a mutual company in which policyholders holding contracts for insurance are considered shareholders in the company. However, Liberty Mutual Group's brand usually operates as a separate entity outside the United States, where a subsidiary is often created in countries where legally recognized mutual-company benefits cannot be enjoyed.
The current CEO is Timothy M. Sweeny. He succeeded his predecessor David H. Long on January 1, 2023. Long was preceded by Edmund "Ted" Kelly. Kelly was appointed CEO in 1998, and stepped down from the Board of Directors as chairman in April 2013.