Chubb acquires Liberty Mutual’s insurance businesses in Vietnam, Thailand
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Chubb Limited has announced agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam without disclosing the terms.
The two companies — LMG Insurance in Thailand and Liberty Insurance in Vietnam —offer a range of consumer and commercial property and casualty (P&C) products, including automotive, acccident & 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 US$$275 million in net premiums written in 2024.
The transactions are expected to be completed by the second quarter of 2025 (Thailand) and late 2025 / early 2026 (Vietnam) and are subject to required regulatory approvals and customary closing conditions.
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 and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide.
Questions & Answers
Q.Which specific insurance companies in Thailand and Vietnam are being acquired by Chubb?
Which specific insurance companies in Thailand and Vietnam are being acquired by Chubb?
Chubb is acquiring LMG Insurance in Thailand and Liberty Insurance in Vietnam. These two companies offer a range of consumer and commercial property and casualty products.
Q.What types of insurance products do the acquired businesses offer?
What types of insurance products do the acquired businesses offer?
The acquired businesses offer various consumer and commercial property and casualty products. These include automotive, accident & health, and non-motor insurance such as fire/property and industrial all-risk.
Q.What is the expected timeline for these acquisitions to be completed?
What is the expected timeline for these acquisitions to be completed?
The acquisition in Thailand is expected to be completed by the second quarter of 2025. The Vietnam acquisition is anticipated to conclude in late 2025 or early 2026.
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