Chubb (CB) has reached agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam. The companies did not disclose the financial terms of the deals.
The acquisitions include LMG Insurance in Thailand and Liberty Insurance in Vietnam. These businesses offer a diverse range of property and casualty (P&C) insurance products catering to both consumer and commercial clients. The offerings encompass automotive, accident, health, and non-motor insurance lines such as fire, property, and industrial all-risk coverage.
These businesses also have complementary distribution networks, including 56 branches, a network of 2,600 brokers and agents, and partnerships with 26 finance companies. In 2024, the combined operations generated approximately $275 million in net premiums written.
The transactions are slated for completion by the second quarter of 2025 and late 2025/early 2026. However, this is subject to regulatory approvals and standard closing conditions.
