Liberty Mutual Investments (LMI) manages over $100 billion on behalf of Liberty Mutual Group, one of the world’s largest P&C insurers. The boundary between insurance and investment management is dissolving—and the investment opportunity is expanding. Third-party insurance capital now exceeds $120 billion globally through sidecars, cat bonds, and collateralized reinsurance. Asset managers are partnering with insurers to access permanent capital, float economics, and new pools of AUM. For Liberty, this means the opportunity to attract additional capital to invest alongside the General Account, source third-party insurance AUM, unlock new deployment channels, and build structures that turn insurance liabilities into competitive advantage.
LMI is creating a new Insurance Solutions & Capital Markets function—its most strategically significant new build—to lead at this intersection from the investment side. The Head of ISCM will design and lead this capability from the ground up, connecting insurance balance-sheet dynamics to investment opportunity.
Key Responsibilities
Capital Solutions & Alternative Capital Structures
- Evaluate, structure, and execute capital optimization strategies across third-party partnerships, sidecar vehicles, reinsurance structures, and co-investment programs.
- Assess the full range of alternative capital instruments and determine where LMI can participate as sponsor, investor, or structurer.
- Partner with GRCS, GRS, the LMG COO, on strategic finance execution: reinsurance structures, liquidity facilities, and bespoke capital vehicles.
- Source third-party capital from alternative asset managers, pension funds, sovereign wealth funds, and institutional investors seeking access to insurance risk and float economics.
Insurance Solutions
- Work with the Investment Strategy team to embed statutory, rating-agency, and regulatory requirements into portfolio construction and mandate structuring across all LMI investment pods.
- Partner with portfolio managers, legal, GIS to engineer structuring solutions that maximize capital efficiency—optimizing RBC treatment, statutory charges, and insurance-specific constraints.
- Translate insurance float, reserve, and liability managing economics into actionable investment frameworks for LMI’s allocation teams.
- Evaluate new asset classes and strategies through an insurance-adjusted return lens, identifying opportunities where balance-sheet characteristics create a structural edge.
Competitive Intelligence & Market Positioning
- Track investment trends across insurance and alternative capital markets; maintain a formal coverage program with quarterly briefings for executive management and the Board.
- Monitor ILS market evolution—cat bond issuance, sidecar formation, new investor entrants—and identify emerging convergence opportunities including digital infrastructure risk transfer.
Platform Building & Enterprise Integration
- Build the ISCM team from the ground up; establish the operating model and integration with LMI’s GSCA, GRCS, office, GRS, and enterprise functions.
- Serve as a senior thought partner to the Head of GSCA and Co-Presidents on convergence strategy; represent LMI externally in the convergence ecosystem.
Qualifications & Experience
- 15+ years at the intersection of insurance and investment management, with center of gravity on the investment side.
- Deep fluency in insurance balance-sheet economics: statutory accounting, RBC, rating agency methodologies, reserve development, and float dynamics.
- Track record structuring capital-efficient investment solutions within or for insurance portfolios.
- Direct experience with at least two of: cat bonds/ILS, reinsurance sidecars, collateralized reinsurance, third-party capital raising, insurance M&A, or insurer-asset manager partnerships.
- Proven ability to build teams and new functions in a matrixed, institutional environment.
Ideal Background
Investment professionals with deep insurance expertise who operate naturally where insurance and investment management converge:
- Alternatives platform insurance investment leader working across origination, structuring, allocation, and capital solutions for insurance balance sheets.
- Insurance CIO / ALM / portfolio strategy executive who expanded into capital markets, reinsurance structuring, or third-party capital.
- Insurance-sector investment banker or strategic finance executive who moved principal-side into an insurer or insurance-owned asset platform.
- ILS / convergence capital leader with deep structuring experience across cat bonds, sidecars, and collateralized reinsurance.
Qualifications & Experience
- 15+ years at the intersection of insurance and investment management, with center of gravity on the investment side.
- Deep fluency in insurance balance-sheet economics: statutory accounting, RBC, rating agency methodologies, reserve development, and float dynamics.
- Track record structuring capital-efficient investment solutions within or for insurance portfolios.
- Direct experience with at least two of: cat bonds/ILS, reinsurance sidecars, collateralized reinsurance, third-party capital raising, insurance M&A, or insurer-asset manager partnerships.
- Proven ability to build teams and new functions in a matrixed, institutional environment.
Ideal Background
Investment professionals with deep insurance expertise who operate naturally where insurance and investment management converge:
- Alternatives platform insurance investment leader working across origination, structuring, allocation, and capital solutions for insurance balance sheets.
- Insurance CIO / ALM / portfolio strategy executive who expanded into capital markets, reinsurance structuring, or third-party capital.
- Insurance-sector investment banker or strategic finance executive who moved principal-side into an insurer or insurance-owned asset platform.
- ILS / convergence capital leader with deep structuring experience across cat bonds, sidecars, and collateralized reinsurance.
At Liberty Mutual, our goal is to create a workplace where everyone feels valued, supported, and can thrive. We build an environment that welcomes a wide range of perspectives and experiences, with inclusion embedded in every aspect of our culture and reflected in everyday interactions. This comes to life through comprehensive benefits, workplace flexibility, professional development opportunities, and a host of opportunities provided through our Employee Resource Groups. Each employee plays a role in creating our inclusive culture, which supports every individual to do their best work. Together, we cultivate a community where everyone can make a meaningful impact for our business, our customers, and the communities we serve.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://www.libertymutualgroup.com/about-lm/careers/benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
Pay Philosophy: Compensation offered is based off several factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.