It is a subsidiary of Liberty Mutual Holding Company Inc. Liberty Mutual Group is a diversified global American insurer and the sixth largest property and accident insurer in the United States. Liberty Mutual was formed in 1912 as the Massachusetts Employee Insurance Association (MEIA), following the passage of a 1911 Massachusetts law requiring employers to protect their employees with workers' compensation insurance. Liberty Mutual Group owns, in whole or in part, local insurance companies in Argentina, Brazil, Chile, China (including Hong Kong), Colombia, Ecuador, India, Ireland, Malaysia, Poland, Portugal, Singapore, Spain, Thailand, Turkey, the United Kingdom, Venezuela and Vietnam.
These products carry the Liberty Mutual Insurance and Sfeco brands, and are distributed through a network of more than 2,300 sales professionals. In 1964, Liberty Mutual Insurance Company began offering life insurance through its Liberty Life Assurance branch. Taking advantage of the greater flexibility of the structure of mutual holding companies, Liberty Mutual went from being a single-line and highly regional insurer to one of the world's leading property and accident insurance companies. Liberty Mutual settled the lawsuit in December 2001, which required additional disclosure and limited some compensation to company officers and directors.
Founded in 1954, the Liberty Mutual Research Institute for Safety studied the occupational safety and health of workers. In the United States, Liberty Mutual is still an investment company in which insured persons holding insurance contracts are considered shareholders of the company. Passenger car insurance, homeowners insurance, life insurance, annuities and other property and accident products are available through Liberty Mutual's US Consumer Markets line. The Liberty Mutual Insurance board of directors is a diverse and dynamic collegiate group that oversees the company's vision and direction.
However, the Liberty Mutual Group brand usually operates as an independent entity outside the United States, where a subsidiary is often created in countries where the benefits of legally recognized mutual companies cannot be enjoyed. In 2002, the company adopted its current structure of mutual companies, which would allow it to offer shares while remaining an investment company. The name was changed in 1917 to Liberty Mutual Insurance Company and, through partnerships, the company began offering full-coverage auto policies. The institute's findings are the basis for the safety programs, recommendations and software used by Liberty Mutual loss control consultants to help policyholders improve worker safety.