BOSTON--(BUSINESS WIRE)--Liberty Mutual Insurance today announced that it will market for sale 10 St. James Avenue and 75 Arlington Street, two office buildings totaling nearly 825,000 square feet that the company owns and partially occupies in Boston’s desirable Back Bay. Liberty Mutual cited that a large portion of the properties had become rental space once the company fully occupied its new office building at 157 Berkeley Street in 2013 as the primary reason for selling 10 St. James Avenue and 75 Arlington Street.
“Boston is where we began as a company and employer over 100 years ago, and we are proud to call the City our home,” said David H. Long, Liberty Mutual Insurance Chairman and Chief Executive Officer. “This real estate transaction will have no impact on jobs or our commitment to the City of Boston. We are committed to being an employer of choice for the diverse and talented workforce attracted to Boston and the region.”
Liberty Mutual is the fifth largest U.S. property and casualty insurer and sixth largest globally. The company has nearly 4,400 employees in its Home Office Boston Campus that includes office buildings it owns located at 175 Berkeley Street, 157 Berkeley Street and 30 St. James Avenue, along with the two properties for sale. The company employs a total approximately 6,100 employees located in 30 offices across Massachusetts.
Liberty Mutual will continue to occupy space in buildings the company owns at 175 Berkeley Street, 157 Berkeley Street and 30 St. James Avenue as well as leasing back space in 10 St. James Avenue and 75 Arlington Street.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. We are the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. We also rank 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. As of December 31, 2015, Liberty Mutual had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $37.6 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in over 800 offices throughout the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more about us by visiting www.libertymutualinsurance.com.