Chubb has announced agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam.
The terms were not disclosed.
The move will help to expand Chubb’s global footprint. Chubb already has locations in 54 different countries including in China, Hong Kong, India, Japan, and Singapore.
The two companies — LMG Insurance in Thailand and Liberty Insurance in Vietnam — offer a range of consumer and commercial property and casualty products, including health, automotive and non-motor insurance such as fire/property and industrial all-risk.
This two companies have a total of 56 branches, 2,600 brokers and agents, and 26 finance partners.
The combined operations produced approximately $275m in net premiums written in 2024.
The transactions are expected to be completed by second quarter of 2025 in Thailand and late 2025 or early 2026 for Vietnam and are subject to required regulatory approvals and customary closing conditions.
