Liberty Mutual completes selective acquisition of AmTrust
Liberty Mutual Insurance completed the acquisition of the business and operations of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain, following satisfaction of customary closing conditions.
“Completing the acquisition of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain further strengthens our strong global surety and reinsurance expertise, market leadership and geographic scope,” notes Tim Mikolajewski, President, Global Surety, Global Risk Solutions, Liberty Mutual, which offers a broad range of primary, excess, specialty and reinsurance products in the U.S. and globally. “Acquiring these businesses supports our goal of becoming a top-three global commercial and specialty lines (re)insurer by providing a platform for broader global expansion through increased market share, compatible portfolio additions, and key international talent.”
On April 15, 2019, Liberty Mutual announced a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust. Terms of the deal were not disclosed. On May 31, 2019, Liberty announced the closing of its acquisition of AmTrust Surety, the U.S. surety operations of AmTrust Financial Services, Inc.