Liberty Mutual Enters Southeast Asia
The acquisition marks Liberty International's entry into the growing Southeast Asian insurance marketplace.
The company currently has operations in Argentina, Australia, Bermuda, Brazil, Canada, China, Colombia, Ireland, Japan, Mexico, the United Kingdom and Venezuela. Liberty International provides distinctive insurance and reinsurance products and services in selected international markets.
Citystate provides personal insurance products and services for auto, home and health, as well as commercial insurance products and services such as workers compensation, to small and mid-sized businesses. The company had 1998 gross written premium of $60 million (U.S.).
Citystate operates through a network of insurance companies and branches in Singapore, Hong Kong, the Philippines and Brunei and offers its products through local and international agents and brokers.
``Due to its diverse personal and commercial insurance product portfolio, management expertise, and extensive knowledge of the region's markets, Citystate is the right strategic fit for our growth plans in Southeast Asia,'' said Ted Kelly, president and CEO of Liberty Mutual. ``It's exciting to have such an outstanding company join the Liberty International family of companies. We now have a strong competitive base in the region.''
Industry (Zurich US is business center customer)
Zurich US Specialties Names Excess Casualty SVP
Zurich U.S. says that Robert Shine has been appointed senior vice president, Excess Casualty, at Zurich U.S. Specialties. In his new position, Shine will be responsible for the overall development and execution of underwriting and marketing strategies for twelve Excess Casualty branch offices nationwide.
In 1998, Shine joined the Excess Casualty group as the territorial executive for the Northeast region, successfully managing the New York and Boston territories and providing strong leadership in the development of the group's overall strategic direction.
Prior to joining Zurich U.S., Shine was vice president, Northeast region, at Tamarack American. He also held underwriting and management positions at American International Group and Fireman's Fund. Shine received his Bachelor of Arts degree in psychology from New England College.