Chubb Limited is set to acquire Liberty Mutual's P&C insurance businesses in Thailand and Vietnam, aiming to strengthen its market presence in these rapidly growing regions.

Target Information

Chubb Limited has announced plans to acquire the property and casualty (P&C) insurance businesses of Liberty Mutual in Thailand and Vietnam. The transaction includes LMG Insurance in Thailand and Liberty Insurance in Vietnam, both of which provide a diverse array of consumer and commercial P&C products. These offerings encompass various segments, including automotive insurance, accident and health coverage, as well as non-motor insurance products such as fire/property and industrial all-risk insurance. The target companies leverage a strong distribution network that comprises 56 branches, 2,600 brokers and agents, along with 26 finance partners, facilitating widespread access to their services.

The combined insurance operations of these entities generated approximately $275 million in net premiums written in 2024. Completion of the acquisition is anticipated by the second quarter of 2025 for the Thai subsidiary, while the deal for the Vietnamese subsidiary is expected to finalize in late 2025 or early 2026. The transactions are subject to the requisite regulatory approvals and customary closing conditions.

Industry Overview in Thailand and Vietnam

The insurance industries in both Thailand and Vietnam are experiencing substantial growth, driven by increasing economic activity and rising consumer awareness regarding the importance of insurance coverage. In Thailand, t