Chubb to acquire Liberty Mutual’s P&C businesses in Thailand and Vietnam

Chubb announced agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam. The terms were not disclosed.

The sale includes LMG Insurance Public Company Limited, a top 10 motor and non-life insurer in Thailand, and Liberty Insurance Limited, the leading foreign retail motor insurer in Vietnam.

The two companies 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.

“Thailand and Vietnam are well-performing businesses with real potential, and this transaction aligns them with an organization that has the strategy and commitment to invest in the development of these markets. We are grateful to our teams who have been dedicated to serving the needs of our clients, brokers and partners in these markets.” – Liberty Mutual President and Chief Executive Officer Tim Sweeney.