Liberty International Underwriters, a division of the leading
global insurer Liberty Mutual Group, has entered the Middle East with
an office in the Dubai International Financial Centre (DIFC). In line
with LIU's expansion strategy, entry into the market gives local
brokers more capacity to help meet the growing marketplace demand for
construction, oil, gas and power insurance.
"Entering Dubai puts us in the region's important and rapidly
expanding insurance market," said Edmund F. Kelly, Liberty Mutual
Group's Chairman, President and CEO. "As the financial hub for the
Gulf and Middle East, Dubai provides opportunities for growth
consistent with our overall international expansion strategy."
The new office, managed by Middle East regional manager Elie
Bouchaaya, will initially focus on the energy and construction
businesses. As opportunities arise in the market, Bouchaaya and his
team will offer access to other product lines, including casualty and
financial lines.
"To keep up with demand, brokers are looking for increased local
capacity with companies that understand the region," said Sean Rocks,
chief executive of Liberty International Underwriters in Europe. "Our
new office and Elie's extensive experience in the Middle East
insurance market over the last 20 years, provides both."
About Liberty International
Liberty International, part of the Liberty Mutual Group (LMG),
provides insurance products and services through two distinct
approaches. The first is through wholly owned insurance companies in
foreign countries, which provide mostly personal insurance products
and services. The second approach is through Liberty International
Underwriters (LIU), which provides specialty commercial lines of
insurance worldwide, including casualty, specialty casualty, marine,
energy, engineering and reinsurance.
Established in 1994, Liberty International has grown its
operations to $3.9 billion in revenue in 2005. Liberty International
has 7,000 employees and operations in 20 countries outside the U.S. -
Argentina, Australia, Brazil, Canada, Chile, China, Colombia, France,
Germany, Hong Kong, Ireland, Portugal, Singapore, Spain, Switzerland,
Thailand, Turkey, United Kingdom, Venezuela and Vietnam.
About Liberty Mutual Group (LMG)
Boston-based Liberty Mutual Group is a leading global insurer and
is the sixth largest property and casualty insurer in the U.S. As of
December 31, 2005, LMG had $78.8 billion in consolidated assets and
$21.2 billion in annual consolidated revenue. LMG ranks 102nd on the
Fortune 500 list of largest corporations in the United States based on
2005 revenue.
LMG 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 (www.libertymutual.com) employs over 39,000 people in more
than 900 offices throughout the world.
