MONTPELIER - Liberty Mutual Captive Services has announced the establishment of Liberty Mutual Management (Vermont) LLC in South Burlington. The company gained approval to open the Vermont office on January 20.
The principal representative in Vermont is Kathryn Boucher who has extensive experience in captive management in Vermont. "Vermont is the largest on-shore domicile in the U.S. and was the obvious next step in the continued growth of our on-shore presence," said Peter J. Willitts, president of Liberty Mutual Management Services. "Its strong captive professional services infrastructure made it an attractive arena for us and is a perfect fit for Kate's expertise - her skills align perfectly with the strong reputations of both Liberty Mutual and the State of Vermont."
Liberty Mutual Captive Services, a business unit of Liberty Mutual Group, offers a comprehensive array of captive and rent-a-captive products and services including fronting, reinsurance, claims management, safety and loss prevention and underwriting.
"We are delighted that Liberty Mutual has chosen to open a captive management office in Vermont," said Governor Jim Douglas. "Vermont is known world-wide for its professional support services, and Liberty Mutual will be a terrific addition."
Boston-based Liberty Mutual Group (LMG) is a leading global insurer and sixth largest property and casualty insurer in the U.S. whose largest line of business is personal auto based on 2003 direct written premium. As of December 31, 2003, LMG had $64.4 billion in consolidated assets and $16.6 billion in annual consolidated revenue and ranked 116th on the Fortune 500 list of largest corporations in the United States for 2003.
"Liberty Mutual has joined some great company," said Vermont's Deputy Commissioner of Captive Insurance, Len Crouse. "We look forward to working with them to continue Vermont's reputation for providing excellent service."
Liberty Mutual Group 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. LMG employs nearly 38,000 people in nearly 900 offices throughout the world.
Vermont's Director of Financial Services says he is not surprised at the growth of Vermont's professional support services. "One of our hallmarks is the 'one-stop-shopping' that our comprehensive infrastructure offers the captive industry," said Dan Towle. "The addition of Liberty Mutual will enhance our ability to be responsive, flexible and innovative."
To find out more about Captive Insurance in Vermont visit: www.VermontCaptive.com .
Brokers and clients can reach Kathryn Boucher at 1-802-343-2488 or by email at captiveservices@libertymutual.com
