Liberty Mutual to Bring 250 jobs to Springfield
SPRINGFIELD - Thursday, February 28, 2008 - Governor Deval Patrick today announced Liberty Mutual Group's plan to add up to 250 jobs at its new Springfield office. Governor Patrick was joined by Undersecretary for Business Development Gregory Bialecki, Mayor Domenic Sarno, and Liberty Mutual Chairman, President and CEO Edmund F. Kelly.
"I am delighted that Liberty Mutual has decided to add 250 jobs here in Massachusetts, and specifically, here in the great city of Springfield," said Governor Patrick, whose Administration worked closely with Liberty Mutual and local officials to make the expansion a reality. "Liberty Mutual's expansion demonstrates the strength of the business environment in the Commonwealth and our commitment to economic development and job growth."
Boston-based Liberty Mutual Group sells full lines of coverage for automobile, homeowners, valuable possessions, personal liability, and individual life insurance. Liberty Mutual Group currently employs over 40,000 people worldwide, 4,400 of whom are located in the 33 offices across Massachusetts.
Its new Springfield office, located at the former Springfield Armory in the STCC Park, is scheduled to open in the third quarter of the year. It will host a variety of business operations, including a customer service call center to support Liberty Mutual's care and home insurance business both in Massachusetts and throughout the nation.
In anticipation of the April, 1 2008 inception of managed competition, Liberty Mutual, the state's fourth largest auto insurer, also announced this week that it would add 30 new sales positions across the state by April. This represents a fifty percent increase over its current sales force levels.
"The long-awaited introduction of managed competition by Governor Patrick and Insurance Commissioner Burnes demonstrates their commitment to making the state a more attractive and competitive car insurance market, and we intend to be well-positioned for growth," said Edmund Kelly. "Massachusetts consumers will benefit from increased choice, and the state coffers will benefit from increased employment."
Under managed competition, Liberty Mutual's new prices are, on average, 10.7 percent lower than their 2007 levels. Some Massachusetts drivers will be eligible for premium decreases of 35 percent or more. In November 2007, Peerless Insurance, a Liberty Mutual Group company, announced plans to come back to the Massachusetts car and home insurance market 20 years after it became one of many companies to stop issuing new and renewal policies because of the state's malfunctioning car insurance system.
"Springfield is a city with considerable potential and a talented pool of employees," said Mayor Domenic Sarno. "Liberty Mutual's new Springfield office will help to sustain and reenergize this important Western Massachusetts hub."
© 2008 Western Massachusetts Economic Development 1441 Main Street Springfield MA 01103