Liberty Mutual
Headquarters:
175 Berkeley Street
Boston, MA 02116
Employees: 41,000
CEO: Edmund Kelly
Mutually held
Website: http://www.libertymutual.com
Career Page
Liberty Mutual provides insurance for individuals,
families and businesses. It is the sixth-largest property casualty
insurer in the U.S. with $94.7 billion in assets at the end of
2007.
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.
Automotive insurance is the largest revenue
generator for the company. Liberty Mutual has more than 900 offices
worldwide.
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").
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 2007, revenues were $25.9 billion with
net income of $1.51 billion.
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.
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
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