BOSTON--(BUSINESS WIRE)--Liberty Mutual Insurance’s board of directors won the private company market segment category during the inaugural NACD NXT recognition awards, which were handed out at the NACD’s annual Global Board Leaders’ Summit. The National Association of Corporate Directors is the authority on boardroom practices representing more than 19,000 corporate board members. The NACD NXT is a multi-year initiative to highlight breakthrough board practices that promote greater diversity and inclusion, ultimately fostering long-term value for the enterprise.
“We are proud to receive this recognition from the NACD for our Nominating and Governance committee’s work to give Liberty an incredibly diverse board of directors, with 33 percent female and 25 percent people of color,” said Liberty Mutual Chairman and CEO David H. Long. “While achieving a diverse board is important, the board needs to support the company in its diversity efforts. With an employee population of over 50,000 globally, it is important to build a talent pool that reflects many different ideas, experiences and backgrounds. To our employees, our board demographics will re-enforce the diversity and inclusion culture that Liberty Mutual continues to foster.”
The diversity of Liberty Mutual’s board extends to its directors’ areas of expertise which includes global business leaders in technology, manufacturing, consumer products and financial services industries; entrepreneurs, consultants, investors, and academics. This diversity enriches the discussion at the board level and brings different insights and perspectives on the business issues.
The NACD NXT initiative builds on the premise that boards should strive for a diverse composition of directors as a means of strengthening their ability to make wise and informed decisions. Specifically, diversity of experience coupled with all of the dimensions are essential to broadening the viewpoints, skills, and backgrounds of individual board members.
“I have been a board member of Liberty Mutual for 16 years and serve on the Nominating and Governance committee (NGC),” said Liberty Mutual Board Member Ellen A. Rudnick. “As long as I have been on the board, the company has focused on creating a board that represents diversity in gender, race, geography and industry. Liberty Mutual recognized a long time ago the value of diversity in its board and its employee population and is actively pursuing programs and initiatives to support this goal. The company has demonstrated a strong commitment to diversity and inclusion and deserves to be recognized for its efforts. I was proud to nominate them for this award and am thrilled that they received it.”
About NACD
The National Association of Corporate Directors (NACD) empowers more than 19,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that today’s directors are well prepared for tomorrow’s challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for 40 years. To learn more about NACD, visit www.NACDonline.org.
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 a leading global insurer with operations in 30 countries and economies around the world. We are the third largest property and casualty insurer in the U.S. based on 2017 direct written premium data as reported by the National Association of Insurance Commissioners. We also rank 68th on the Fortune 100 list of largest corporations in the U.S. based on 2017 revenue. As of December 31, 2017, we had $39.4 billion in annual consolidated revenue.
We employ nearly 50,000 people in over 800 offices throughout the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, commercial multi-peril, property, general liability, commercial automobile, surety, workers compensation, specialty lines, and reinsurance.
You can learn more about us by visiting www.libertymutualinsurance.com.