LM Re appoints Cara Sweeney as specialty casualty underwriting manager

LM Re appoints Cara Sweeney as specialty casualty underwriting manager | Insurance Business New Zealand

Insurance News

LM Re appoints Cara Sweeney as specialty casualty underwriting manager

She will focus on complex financial institution risks

Insurance News

By
Kenneth Araullo

Liberty Mutual Reinsurance (LM Re), a division of Liberty Mutual Insurance Group, has appointed Cara Sweeney (pictured above) as specialty casualty underwriting manager.

In her new position, Sweeney will manage the underwriting strategy and performance of LM Re’s US specialty casualty portfolio.

Her responsibilities include developing risk assessments for complex financial institutions requiring directors and officers (D&O) and errors and omissions (E&O) insurance. This includes institutions in the private equity, venture capital, hedge fund, banking, and insurance sectors.

Sweeney brings more than 16 years of industry experience to her new role. Before joining LM Re, she served as vice president at Vantage Risk, where she was part of the underwriting team for the US financial lines business. Her expertise complements the strong reinsurance capabilities of the existing team.

Sweeney will report to Chantal Rodriguez, chief underwriting officer at LM Re, and will be based in Stamford.

“We are confident that Cara’s broad experience and industry expertise will be an excellent addition to LM Re’s offering in the specialty casualty segment. Her strong market relationships will help further strengthen our operations both in the US and globally,” Rodriguez said.

Earlier this month, LM Re and Safehub joined forces with the University of California (UC) to provide a solution aimed at protecting the university’s campuses from earthquake damage.

The agreement, which marks the first sensor-triggered parametric earthquake coverage purchased in the US, comes as part of an ongoing effort by LM Re and Safehub to expand the reach of their technology-driven earthquake insurance products globally.

The partnership builds on prior successes in Mexico and the Caribbean, where similar sensor-based insurance policies were successfully rolled out.

In September, the reinsurance firm appointed Manja Kollmann as its new chief operating officer, succeeding Kirk Maddern, who had been serving in the role on an interim basis.

What are your thoughts on this story? Please feel free to share your comments below.