Belfast Telegraph

Ulster-born insurance chief among top US earners

By Donal O'Donovan

The Ulster-born boss of US insurance giant Liberty Mutual earned $150m (£94m) between 2008 and 2010. It makes him one of the top earners in the US, according to a report in the Boston Globe.

Armagh man Edward (Ted) Kelly stepped down from the company as CEO last year but remains chairman of the global insurance business.

The Liberty Insurance brand is fast becoming high profile in Ireland after Liberty Mutual snapped up Quinn Insurance last year for just €1.

Liberty bought the insurance company out of the ruins of the collapsed Quinn Group business empire under a partnership deal with Irish Banking Resolution Corp - the former Anglo Irish Bank.

The old Quinn brand is now being phased out - and the new Liberty Insurance brand is running a major advertising campaign to relaunch the business.

Liberty Mutual's home town of Boston features strongly in the advertising campaign. The Boston Globe, the city's main newspaper, says Mr Kelly's $50m-per-year (£31.5m) income made him the highest paid executive in the state of Massachusetts.

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