Chubb Expands Asia-Pacific Presence with Liberty Mutual Acquisitions
ZURICH, March 3, 2025 – Chubb Limited (NYSE: CB) has announced plans to broaden its footprint in the Asia-Pacific region by acquiring the insurance businesses of Liberty Mutual in Thailand and Vietnam.
The financial terms of the agreements remain undisclosed. The acquisition encompasses LMG Insurance in Thailand and Liberty Insurance in Vietnam. These companies offer a diverse range of consumer and commercial property and casualty (P&C) products, including automotive, accident & health, and non-motor insurance, such as coverage for fire, property, and industrial all-risk scenarios.
This acquisition includes Liberty Mutual’s comprehensive distribution network, encompassing 56 branches, approximately 2,600 brokers and agents, and 26 finance partners. In 2024, the combined operations generated approximately $275 million in net premiums written.
The transactions are anticipated to conclude in the second quarter of 2025 for Thailand and in late 2025 or early 2026 for Vietnam, subject to regulatory approvals and customary closing conditions.
About Chubb
Chubb stands as a global leader in the insurance industry. With operations spanning 54 countries and territories, the company provides commercial and personal P&C insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. Chubb serves a wide array of clients and is distinguished by its extensive product and service offerings, robust distribution capabilities, substantial financial strength, and localized global operations.
Chubb Limited, the parent company, is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. The company employs approximately 43,000 people worldwide.
Additional information can be found at www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
This press release contains forward-looking statements, including those related to the acquisition of the businesses. These statements reflect our current views regarding future events and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including the ability to achieve the anticipated benefits of the proposed transaction; the timing of completion of the transaction and our ability to complete it; receipt of any required regulatory approvals; our ability to integrate the acquired businesses, operations, and employees; general competitive, economic, political, insurance, and reinsurance business market conditions; judicial, legislative, regulatory, and other governmental developments; and management’s responses to these factors, as well as other factors identified in our filings with the Securities and Exchange Commission. Readers are cautioned not to rely unduly on these forward-looking statements, which speak only as of the dates they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, or otherwise.
