Chubb to Acquire Liberty Mutual’s P&C Insurance in Thailand and Vietnam

Chubb Limited, a global insurance carrier, has announced agreements to acquire the property and casualty (P&C) insurance operations of Liberty Mutual in Thailand and Vietnam. This acquisition involves LMG Insurance and Liberty Insurance, which offer a mix of consumer and commercial P&C products, such as automotive, accident & health, and non-motor insurance like fire and property insurance. The acquisition is set to include a robust distribution network of 56 branches, 2,600 brokers and agents, and partnerships with 26 finance partners. These operations generated approximately $275 million in net premiums written in 2024. Chubb sees this acquisition as a strategic move to bolster its business presence in Asia, while Liberty Mutual plans to focus on its extensive portfolio in other high-potential areas within the Asia Pacific region, which is considered to be the fastest-growing P&C insurance market globally. The transaction for the Thailand-based insurer is expected to conclude in the second quarter of the current year, and the deal for the Vietnamese entity is anticipated to close late this year or in early 2026, pending required approvals and closing conditions. While the financial terms remain undisclosed, Goldman Sachs served as financial advisor, with Baker McKenzie providing legal assistance to Liberty Mutual.