Boston-based Liberty Mutual Group is a diversified global insurer and fifth largest property and casualty insurer in the U.S. based on 2008 direct written premium. The Company also ranks 86th on the Fortune 500 list of largest corporations in the U.S. based on 2008 revenue. As of December 31, 2008, Liberty Mutual Group had $104.3 billion in consolidated assets, $94.2 billion in consolidated liabilities and $28.9 billion in annual consolidated revenue.