Boston-based Liberty Mutual Group, the corporate parent of Wausau-based Wausau Insurance, has retired the Wausau Insurance brand name and has ceased direct distribution to mid-sized businesses. Wausau Insurance is now doing business as Liberty Mutual Middle Market.
The company will now distribute commercial property and casualty insurance to middle market businesses through a network of agents and brokers, it said in a news release.
Most of Wausau Insurance’s nearly 1,400 employees in Wausau will retain their jobs, said Brad Zweck, Wisconsin public affairs director with Liberty Mutual. Most workers will continue to be employed with Liberty Mutual Group, while some will work directly for the three brokers who have purchased most of Wausau Insurance’s mid-sized business renewal rights. The brokers are Arthur J. Gallagher & Co., Hub International and USI Holdings Corp.
“We do expect that there will be a small amount of net job loss overall,” Zweck said. “The vast majority of employees will stay within Liberty Mutual Group – and a sizeable number of employees will become employees of the three brokers. Many of those employees whose jobs will be eliminated will be offered positions elsewhere in Liberty Mutual.”
Wausau Insurance Co. has been a wholly owned subsidiary of Liberty Mutual since 1999.
“While the Wausau brand will be retired, the Wausau agents, brokers and policyholders are vital to our future success,” said J. Paul Condrin, president of commercial markets with Liberty Mutual. “We value those partnerships and will focus on deepening and enhancing them via quality service, proactive communication and a commitment to delivering superior outcomes.”
