Chubb Limited (NYSE: CB) has announced agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam. The terms were not disclosed. Here are some brief details;
The two companies — LMG Insurance in Thailand and Liberty Insurance in Vietnam — offer a range of consumer and commercial P&C products, including Automotive, Accident & Health and Non-Motor insurance such as fire/property and industrial all-risk. This portfolio is coupled with complementary distribution through 56 branches, 2,600 brokers and agents, and 26 finance partners. The combined operations produced approximately $275 million in net premiums written in 2024.
The transactions are expected to be completed by second quarter of 2025 (Thailand) and late 2025 / early 2026 (Vietnam) and are subject to required regulatory approvals and customary closing conditions.
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