BOSTON, April 18, 2019 /PRNewswire/ -- David Long, Liberty Mutual Insurance's Chief Executive Officer, today announced that Jay Hooley, Chairman and former Chief Executive Officer of State Street Corporation, has been elected to the insurer's Board of Directors.
"We are thrilled to have a leader like Jay Hooley, who brings a wealth of accomplishments and strong stature, join our board of directors," Mr. Long said. "I look forward to working with him as we strive to make Liberty a top-three global property and casualty company."
As former CEO of State Street, Mr. Hooley led one of the world's leading providers of financial services to institutional investors, with 40,000 employees, $31.6 trillion in assets under custody and administration, and $2.5 trillion in assets under management as of December 31, 2018.
"I am delighted to join the Liberty Mutual Board of Directors," Mr. Hooley said. "The company's belief that progress happens when people feel secure is at the core of how it fulfills its purpose of helping people embrace today and confidently pursue tomorrow. I look forward to working with the Liberty Mutual Board and management team to help achieve the company's goals."
Mr. Hooley serves on the board of the Boys and Girls Clubs of Boston and as a member of the President's Council of the Massachusetts General Hospital. He has received numerous recognitions including: Global Custodian's Lifetime Achievement Award, NICSA Robert L. Gould Award, New England Council's New Englander of the Year Award, the Partnership Inc.'s Bennie Wiley CEO Diversity Award, Lewis Family Foundation CEO Social Leadership Award, and the Boston Municipal Research Bureau's City Champion Award. Mr. Hooley is a graduate of Boston College.
About Liberty Mutual Insurance
Liberty Mutual's purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care.
In business since 1912, and headquartered in Boston, Mass., today we are the fifth largest global property and casualty insurer based on 2017 gross written premium. We also rank 68th on the Fortune 100 list of largest corporations in the U.S. based on 2017 revenue. As of December 31, 2018, we had $41.6 billion in annual consolidated revenue.
We employ nearly 50,000 people in 30 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.