Chubb to Acquire Liberty Mutual's P&C Insurance Businesses in Thailand and Vietnam
Transaction represents an opportunity to enhance and expand Chubb's business
ZURICH, March 3, 2025 /PRNewswire/ -- Chubb Limited (NYSE:CB) today announced agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam. The terms were not disclosed.
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.
About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE:CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made in this press release, such as those related to the acquisition of the businesses noted above, reflect our current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause actual results to differ materially from such statements, including without limitation, our ability to achieve the anticipated benefits of the proposed transaction; the expected timing of completion of the transaction and our ability to complete it; receipt of any required regulatory approvals and completion of other closing conditions; our ability to integrate the acquired businesses, operations and employees; general competitive, economic, political, insurance and reinsurance business market conditions; and judicial, legislative, regulatory and other governmental developments, as well as management's responses to these factors, and other factors identified in our filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Chubb Limited