Liberty Mutual Insurance Elects George Serafeim of Harvard Business School to the Company's Board of Directors

BOSTON, April 28, 2021 /PRNewswire/ -- Liberty Mutual Insurance Chairman and Chief Executive Officer David Long today announced that George Serafeim, the Charles M. Williams professor of business administration at Harvard Business School and senior partner and co-founder of the global sustainable business consulting firm KKS Advisors, has been elected to the company's board of directors. Professor Serafeim brings a wealth of experience in accounting, finance and strategic management, and corporate governance and board reporting, as well as a proven track record in developing effective sustainability strategies for companies around the world.

"George Serafeim is a renowned business strategist and academic leader who comes to our board with valuable insights and perspectives," said Long. "His background and thought leadership will play a pivotal role as we continue our sustainability journey and deliver on our belief that progress happens when people feel secure."

Professor Serafeim has received a number of awards for his courses in the MBA, executive education and doctoral programs at Harvard Business School and is the faculty chair of the school's Impact-Weighted Accounts Project, which drives the creation of financial accounts that reflect a company's financial, social and environmental performance. A co-founder of leading consulting firm KKS Advisors and technology firm RGS, and with deep experience in investment management, he has helped organizations build effective strategies that pave the way to a sustainable society.

"Liberty Mutual's venerable history is a testament to its resiliency and ability to position the business for long-term success," said Serafeim. "I look forward to working closely with my fellow board members and the Liberty Mutual management team to continue driving business growth and movement around the company's sustainability goals."

Recognized as one of the most influential people in the field of sustainable investing, Professor Serafeim has presented his research in over 60 countries around the world, including to global leaders at events such as the Davos World Economic Forum and the Aspen Ideas Festival. He has written more than 100 articles and business cases, publishing numerous studies in top-tier academic journals, including Strategic Management Journal, Management Science and The Accounting Review, and his work is frequently quoted in media outlets such as The New York Times and The Wall Street Journal. Professor Serafeim has presented his research at more than 300 conferences and also serves as a board member for other companies in the private and non-profit sectors. He earned his doctorate in business administration at Harvard Business School and holds a master's degree in accounting and finance from the London School of Economics and Political Science.

About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.

In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2020 gross written premium. We also rank 77th on the Fortune 100 list of largest corporations in the U.S. based on 2019 revenue. As of December 31, 2020, we had $43.8 billion in annual consolidated revenue. Our board of directors has also been recognized for its diversity by the National Association of Corporate Directors.

We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.

For more information, visit www.libertymutualinsurance.com.

SOURCE Liberty Mutual Insurance