Liberty Mutual Ins. Group

Type: Private
Founded: 1912
Headquarters: Boston, United States
Key people:
Industry: Insurance
Products:
Website: http://www.libertymutual.com

General Information

Liberty Mutual Group (LMG, Liberty, Liberty Mutual), is a large American insurance company. Founded in Boston in 1912, as of 2005 it had 39,000 employees and more than 900 worldwide offices. As of early 2007 it was number 95 on the Fortune 500 list of the largest American corporations and number 39 on Equal Opportunity Magazine's annual Top 50 Employers list. As of December 31, 2006, Liberty Mutual Group had $85.5 billion in consolidated assets, $74.6 billion in consolidated liabilities and $23.5 billion in annual consolidated revenue. Liberty Mutual is the sixth-largest property and casualty insurer in the U.S. based on 2005 direct written premium.

Until recently, Liberty Mutual has stayed away from aggressive television and radio advertisements but is able to maintain its size through a form of affinity marketing known internally as Group Savings Plus. The company hires account executives to establish amicable business relationships with qualified employers, professional associations and college alumni associations. The members of these groups are allowed a discount because of their qualified status as usually higher education is considered one of the best signs of a good insurance risk. Liberty Mutual will then market to these groups and rely on targeted advertising within the accounts and word of mouth to promote growth.

Liberty Mutual made its first foray into public advertising a little over a year ago with a campaign focusing on personal responsibility.