Liberty Mutual Insurance is undertaking a strategic review of its London-based Pembroke Managing Agency.
The company acquired Pembroke when it purchased lronshore in May of 2017 from Chinese conglomerate Fosun International for around $2.94 billion.
Pembroke, which has hubs in the US, Middle East and Asia, underwrites a portfolio of specialty insurance products through Lloyd's (Syndicate 4000) and company paper, including: property, liability, political risks, marine and energy, accident and health, agriculture, and select specialist lines. Pembroke is also a specialist provider of Lloyd's managing agency services to third party capital supported syndicates.
The company has retained Evercore to serve as its adviser through the process. Liberty Mutual said that it does not plan on providing additional details of the review until its completion.
Liberty Mutual, Pembroke, purchase, strategic review