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Liberty Mutual Insurance said David H. Long, CEO since 2011 and a nearly 40-year veteran of the company, will retire at the end of the year.

The company’s board of directors appointed Timothy M. Sweeney, currently Liberty Mutual’s president, the new CEO effective January 2023. Sweeney, who will become a member of the board immediately, has been with the insurer nearly 30 years and will be the 10th CEO in its 110-year history, Liberty Mutual said.

Long, who will serve as the company’s executive chairman on the board, has been with Liberty Mutual for 37 years. He was appointed president in 2010, CEO in 2011, and chairman in 2013. Long is credited with growing Liberty Mutual into the sixth-largest global P/C insurer. In July 2021, Liberty Mutual announced the acquisition of State Auto Group, adding $2.3 billion in premiums while becoming the second-largest carrier in the independent agent channel. The deal closed in March. Other major acquisitions during Long’s tenure as CEO included Ironshore, AmTrust Financial Services, and AmGeneral. In 2018, Liberty Mutual sold off its life insurance unit.

“Liberty Mutual has been a part of my life for nearly four decades,” Long said, in a statement. “The company has experienced significant change, challenges and transformation over the years, and I’m fortunate to have been a part of it all. I’m extremely grateful to our employees as they are what makes this an exceptional place to work by doing what’s right for our customers, partners, communities and each other.”

Bill Van Faasen, lead director, said Long has “shaped Liberty Mutual into a world-class P/C provider that is stronger than ever and will be there for its customers into the future. He’s driven immense growth for the organization while prioritizing the company’s identity and values. David believes in putting people first and leading with empathy and transparency, and the board thanks him for his dedication to the company.”

Long has been recognized for his philanthropy, workplace culture, and efforts on diversity, equity and inclusion (DEI). Liberty Mutual said Long focused on environmental, social and governance (ESG) with the formation of the Offices of DEI and Sustainability and starting an annual ESG report to announce DEI goals.

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Employees under Long had a 75% participation rate to support 12,000 non-profit organizations through nearly $600 million in total giving, Liberty Mutual said, adding that there has been a four-fold increase in charitable giving through the Liberty Mutual Foundation to an annual distribution of $50 million.

Outside of Liberty Mutual, Long serves on the boards of multiple organizations, including Eversource Energy, Massachusetts Competitive Partnership, Tamarack Technologies, Ford’s Theatre in Washington, D.C., and Massachusetts General Hospital, where he also acts as chairman for an annual gala to raise money for children and young adults on the autism spectrum. He also serves on the MIT President’s CEO Advisory Board and is Chair of the Board of Trustees for his alma mater Hartwick College. In recognition of his philanthropic leadership, he was honored by the Boston-based USS Constitution Museum and Bridge Over Troubled Waters, a non-profit that services homeless and high-risk youth and is supported by the Liberty Mutual Foundation.

Since his appointment as president about a year ago, Sweeney has had oversight of the organization’s three business units – Global Risk Solutions, Global Retail Markets (GRM) and Liberty Mutual Investments. He previously served in a variety of senior leadership positions, including president of GRM – the company’s global personal and small commercial insurance division.

“Tim is an outstanding leader who will continue to drive the organization forward, harnessing the strength of our global organization,” Long said.

Liberty Mutual said Sweeney is also passionate about DEI and is the co-executive sponsor of Liberty Mutual’s Employee Resource Group – focused on people with disabilities and those who are caregivers, family members and allies. He is also on the Board of Directors of Blue Cross Blue Shield of Massachusetts, the Statue of Liberty-Ellis Island Foundation, Inc., the Massachusetts General Hospital annual Aspire gala fundraiser, as well as the executive committee of the Board of the Massachusetts Business Roundtable.