Liberty Mutual Names President of Liberty Operations in Chile

Liberty Mutual Insurance said it has appointed Oscar Huerta as president of Liberty Compania de Seguros Generales S.A.

Huerta will oversee all aspects of Liberty Mutual Insurance's operations in Chile. Prior to joining Liberty Seguros Chile, he was a managing director at EMB Iberia before being named sales practice leader for property/casualty after EMB's acquisition by Towers Watson. Huerta has also held a variety of senior management positions within Liberty Seguros Spain, including actuarial director and bancassurance business director.

He was part of the start-up team for Liberty Direct, Liberty Mutual Insurance's company in Poland and has been involved in other projects throughout Liberty International to assess operational capabilities and advise on best practices.

"With 17 million people and a growing middle class, there is tremendous opportunity for insurers in Chile to expand their market share," Victor Meintjes, executive vice president and chief operating officer of Liberty Mutual Insurance Latin America, said in a statement.

Liberty Mutual has said it will continue to focus on middle-class markets worldwide. The company has $1 billion in operations in Brazil and Venezuela and significant operations in Columbia, Chile and Argentina. The company has its sights set on moving into Africa (Best's News Service, June 20, 2011).

Since entering the Chilean insurance market in 2004, Liberty Seguros Chile has become the fourth-largest automobile insurer and second-largest provider of fire and earthquake coverage through a compound annual growth rate of 14%, Liberty said. Liberty Seguros Chile provides auto and property insurance for individuals and small to midsize businesses through 387 employees in 15 branches throughout the country.

Liberty Seguros Chile is part of Liberty Mutual Insurance's International strategic business unit.

Liberty Mutual Group currently has a Best's Financial Strength Rating of A (Excellent).

(By Caroline Saucer, editor, BestWeek: [email protected])