Liberty Mutual to acquire JMalucelli Travelers Seguros S.A.

Liberty Mutual announced an agreement to acquire JMalucelli Travelers Seguros S.A., a domestic surety provider based in Bogota, Colombia. The deal is subject to regulatory approval. Terms of the transaction were not disclosed.

JMTRV has served the Colombian surety market since 2012. With more than 50 employees and approximately $13 million in gross written premium, more than 90% of the company’s business is comprised of surety contract, commercial, and judicial bonds. Under the agreement, Liberty Mutual Surety will retain JMTRV’s portfolio without business or broker disruption, and its employees will join Liberty Mutual when the deal closes. Upon completion of the transaction, LMS will be a top 10 surety writer in Colombia.

“Acquiring JMalucelli Travelers underscores our commitment to the Latin America guarantee market. This positions us to better grow our business in Latin America with top industry talent that has extensive knowledge of the local market.” – LMS President Tim Mikolajewski.