NU Online News Service, Feb. 16, 8:44 a.m. EST
Liberty Mutual Insurance says it promoted Oscar Huerta to president of Liberty Compañía de Seguros Generales S.A. in Chile, with oversight of all aspects of the insurer's operations in this emerging market.
“With 17 million people and a growing middle class, there is tremendous opportunity for insurers in Chile to expand their market share,” says Victor Meintjes, executive vice president and chief operating officer of Liberty Mutual Insurance Latin America. “Oscar's experience makes him uniquely qualified to lead our operations in Chile and I am confident that under his leadership we will continue the successful growth rate we have experienced over the past seven years.”
Since entering the Chilean insurance market in 2004, Liberty Seguros Chile has become the fourth largest auto insurer and second largest provider of fire and earthquake coverage through a compound annual growth rate of 14 percent.
Prior to joining Liberty Seguros Chile, Huerta was a managing director at EMB Iberia and was then named sales practice leader for property and casualty after EMB's acquisition by Towers Watson.
Over his career, Huerta has held a variety of senior management positions within Liberty Seguros Spain including actuarial director and bank-assurance business director. He was also part of the start-up team for Liberty Direct, Liberty Mutual's company in Poland, and has been involved in other projects throughout Liberty International to assess operational capabilities and advise on best practices.
Huerta holds a bachelor's degree in economics and business sciences from Universidad Complutense de Madrid and is a chartered actuary and fellow of the Institute of Actuaries of Spain with 20 years' experience in the insurance industry.
Liberty Seguros Chile, a part of Liberty Mutual's International Strategic Business Unit (SBU), provides auto and property insurance for individuals and small to mid-size businesses through 387 employees in 15 branches throughout the country.
SBU reported net written premium of $7.2 billion in 2010, which constituted 24.6 percent of Liberty Mutual's $29.19 billion in net written premium for the year ended December 31, 2010.
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