Liberty Mutual Reinsurance Makes Parametric Payout to Mexican Government Following M7.3 Earthquake

PARIS (13 October 2026): Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has made a parametric payment to the Mexican federal government following a magnitude 7.3 earthquake off Mexico’s southern coast on 17 July 2026. The earthquake triggered coverage under the government’s nationwide parametric earthquake and volcanic risk insurance program within weeks of the policy’s inception, for which LM Re has served as lead capacity provider since June.

The federal program is overseen by Secretaría de Hacienda y Crédito Público, Mexico’s Ministry of Finance and Public Credit, and administered by Agroasemex, S.A., the Mexican state-owned insurance institution. The claim payment meets the Mexico government’s goal of ensuring fiscal resilience and continuity of public services after disasters. The deal was brokered by Augment Risk and domestic broker TBS.

The policy utilizes ShakeNet Parametric, LM Re’s earthquake parametric insurance and risk management technology solution, powered by Safehub’s Shake Network and the Global Earthquake Model’s (GEM) OpenQuake engine. By deploying Safehub’s propriety sensor network, the Shake Network reduces basis risk by bridging the gap between estimated models and actual ground motion. During the July 17 event, Safehub sensors recorded shaking within 80 km of the epicenter, delivering critical ground-truth to facilitate a precise and rapid trigger. The Mexico program represents the largest ShakeNet Parametric deployment to date, backed by an extensive nationwide Safehub sensor network.

Jean-Christophe Garaix, Head of Parametrics and Agriculture at LM Re, said: “We are pleased to support the Mexican government in its disaster preparedness program. This claim payout reflects the effectiveness of how our solution can strengthen disaster resilience at a national scale, providing support when insureds need it most. It also showcases the growing demand for high-resolution earthquake impact data in risk transfer applications, with additional large-scale projects currently being developed in markets around the world.”

Andy Thompson, CEO of Safehub, said: “Ground-truth data is the key to aligning theoretical models with real-world impact and reducing basis risk. We are proud that Safehub’s sensor network and technology enabled a rapid, objective payout for the Government of Mexico. Earthquake resilience depends on actionable, high-resolution data and delivering that
precision is at the core of our mission.”