U.S. primary insurer and global re/insurer Liberty Mutual has announced that well-known executive James Slaughter is set to depart the company, with David Perez promoted to Chief Underwriting Officer for the Global Risk Solutions (GRS) unit as his replacement.
Slaughter is well-known in the insurance-linked securities (ILS) and reinsurance convergence space, having worked on many of Liberty Mutual’s initiatives in ILS over the years, including its Mystic Re series of catastrophe bonds and also involvement with its Limestone collateralised reinsurance sidecar vehicle.
Slaughter had worked at Liberty for over 15 years, having started at its London syndicates unit leading strategy and capital management, before moving on to lead the insurers global reinsurance strategy and then becoming CUO of the GRS unit.
Perez is the ideal replacement, having been working at Liberty Mutual since 2012, most recently as Chief Underwriting Officer for North America for the GRS unit.
GRS is the Liberty arm that operates as a global commercial and specialty lines re/insurer, providing traditional insurance, specialty and reinsurance risk solutions to businesses around the world.
Perez will be tasked with partnering with underwriting leaders across the Liberty Mutual GRS unit to drive underwriting strategy and operations, maximising the value the insurer offers to brokers and customers across the globe.
Slaughter is set to depart the company as of June 30th. It will be interesting to see whether the executive lands at another major global player or a start-up.
“I’m tremendously pleased to appoint David to this important position,” commented GRS President Dennis Langwell. “He has the underwriting and management expertise to bring value to our business partners and policyholders around the world. I thank James for his work to ensure a seamless transition and for his significant contributions to Liberty Mutual’s success over his 15-year career with the Company.”