Liberty Mutual Insurance Group’s LM Re has set up a dedicated Australian unit to oversee its portfolio and appointed Aon’s Mark De La Mare to lead the underwriting team based in Sydney. 

The business says the establishment of LM Re Australia marks a “significant development” as it looks to grow here and in New Zealand. 

LM Re Australia replaces the ARUS managing general agent that previously manage its Australasia portfolio written through Lloyd’s. 

“The new team will continue the build out of Liberty’s existing business in Australia, and demonstrates our commitment and continuity to our clients, aligning with LM Re’s goal to provide direct and customised reinsurance solutions to our key markets,” the company said. 

Mr De La Mare will start in October as Head of Australia and New Zealand, reporting to head of treaty property London James Green and Asia-Pacific COO John McCabe. 

He will play a “pivotal role” in its strategy for the region, the company says. 

Mr De La Mare is currently Aon Reinsurance Australia property head, according to his LinkedIn. 

LM Re says he brings more than 15 years of experience in the reinsurance sector and has worked extensively with catastrophe risk modelling and strategic reinsurance placements. 

“We are very pleased indeed to welcome Mark to LM Re to develop and strengthen the local reinsurance presence we have built in the region,” Mr Green said. “Mark’s deep industry knowledge and experience will be invaluable as we strengthen our operations in Australia and New Zealand.”