Liberty Mutual executive and former Ironshore CEO Kevin Kelley plans to retire at the end of 2019, the company disclosed on Nov. 21.

Kelley, currently Liberty Mutual’s vice chairman for Global Risk Solutions, joined the insurer in 2017, after Liberty Mutual bought Ironshore Inc. from China’s Fosun International for $3 billion. Kelley helped grow Ironshore from its infancy into a global excess and surplus specialty lines insurance company. As Liberty Mutual noted, Kelley also expanded Ironshore’s international and U.S. presence with a network of offices offering diverse, specialty insurance coverages throughout its global platform.

Kevin Kelley, Ironshore

During a Carrier Management interview after the Liberty Mutual/Ironshore acquisition deal closed, Kelley was bullish about Ironshore’s new owner.

“I am dead serious,” he said at the time. “We can build a premier specialty property/casualty insurer. By knowing and utilizing the resources of a Liberty Mutual, which are extensive both from the insurance product side, distribution side, but just as importantly [on the technology side], what we want to do is build the premier specialty property/casualty insurer of tomorrow.”

Kelley’s career goes back well beyond Ironshore. Before joining that company, he served as chairman of the board and CEO of Lexington Insurance Company from 1997-2008. As well, he was also executive vice president of AIG Property Casualty Group, President of AIG Domestic Personal Lines, Director of C.V. Starr & Co. and Starr International Companies, among other positions.

Liberty Mutual Chairman and CEO David Long noted Kelley’s veteran industry status in the company’s brief announcement of his pending retirement.

Kelley “has a long and distinguished career in the U.S. insurance industry,” Long said in prepared remarks. “His leadership, innovative thinking and market expertise has had significant impact to our business.”

Kelley, for his part, had this to say: “Liberty Mutual is a strong, long-standing institution. I enjoyed my experience working with [Long], his team and the many talented people I came to know and appreciate.”

Source: Liberty Mutual

Topics Mergers & Acquisitions Excess Surplus