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Liberty Mutual

Headquarters: 175 Berkeley Street
Boston, MA 02116
Employees: 45,000
CEO: Edmund Kelly
Mutually held
Website
: http://www.libertymutual.com

Career Page

Liberty Mutual provides insurance for individuals, families and businesses. It is the fifth-largest property casualty insurer in the U.S. based on direct written premiums. At the end of 2009, Liberty Mutual had $109.5 billion in assets.

Liberty Mutual 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, assumed reinsurance, fire and surety.

Liberty Mutual has 45,000 employees at more than 900 offices worldwide.

The company conducts its business through four strategic business units: Personal Markets, Commercial Markets, Agency Markets and International. Each business unit operates independently of the others and has dedicated sales, underwriting, claims, actuarial, financial and certain information technology resources.

In 2001 and 2002, the Company reorganized into a mutual holding company structure. The three principal mutual companies of the group, Liberty Mutual Insurance Company ("LMIC"), Liberty Mutual Fire Insurance Company ("LMFIC") and Employers Insurance Company of Wausau ("EICOW"), each became separate stock insurance companies under the ownership of Liberty Mutual Holding Company Inc. ("LMHC").

In 2009, revenues were $31.1 billion with net income of $1.02 billion.

The company broke ground in October on a new 22-story, 590,000 square-foot office building at 157 Berkeley Street in Boston. The $300 million expansion project will create 600 new full-time positions at the company and an additional 500 construction jobs. Since January 2008, Liberty Mutual has added 600 employees in Massachusetts, with 300 of those jobs coming to Boston.

History

1911: The Massachusetts Legislature passes a law requiring employers to protect their employees with workers' compensation insurance.

1912: The Massachusetts Employees' Insurance Association (MEIA), the forerunner of today's Liberty Mutual, begins operation on July 1, 1912. As a mutual company, the MEIA is owned by its policyholders, not stockholders. It works on behalf of its policyholder customers - a tradition that continues to this day.

1914: Company opens first branch office in Springfield, Massachusetts. The Company issues its first automobile policy.

1917: MEIA changes its name to the Liberty Mutual Insurance Company and begins writing public liability insurance. It also enters into an arrangement with the United Mutual Fire Insurance Company (later named Liberty Mutual Fire Insurance) to provide complete automobile insurance.

2002: Liberty Mutual converts to a mutual holding company structure. The conversion better positions Liberty Mutual to compete on the global property and casualty stage.

2008: The company acquired Safeco for $6.8 billion.

Benefits

- Medical Insurance
- Dental Insurance
- Disability insurance
- Life insurance
- Vision care coverage
- Reimbursement accounts
- Pay-for-performance
- 401(K) and retirement plan - 50% match of up to your first 7% of pay contributions, and the opportunity for an additional match of up to 50%, based on company performance. Fully-paid pension plan
- Paid time off - Up to 20 days may be carried over each year
- Tuition reimbursement - Up to $6,000 per year

Updated October 24, 2010

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