Boston-based Liberty Mutual Group President and CEO Edmund F. Kelly will retire later this month, and David H. Long is set to take his place.

Kelly, 65, will continue to serve as chairman of the board of Liberty Mutual Holding Co., according to a statement.

Long, 50, has served in various leadership positions at Liberty Mutual over his 25-year career with the company, including most recently as president.

"Personally it gives me great pleasure to hand the reins over to David," said Kelly. "As I have worked more closely with him in the past year, I have been more and more impressed with the newly elected CEO of this great company. David’s management and leadership skills make him the ideal person for the job."

"I am indeed fortunate to follow Ted Kelly as Liberty Mutual’s CEO," Long said. "Ted has been a tremendous mentor to me and his mark on our company sets an extraordinary standard for all of us. I look forward to working with the senior management team and our employees to continue positioning Liberty Mutual Group as a leader among global insurers."