Liberty Mutual Insurance Agrees to Sell Vietnam Operation to Chubb

Published on
Wed, 03/05/2025 - 20:46

Liberty Mutual Insurance Agrees to Sell Vietnam Operation to Chubb

Vietnam (March 5, 2025) – Liberty Mutual Insurance has agreed to sell its operations in Thailand and Vietnam to Chubb Limited. Terms of the deal have not been disclosed. In particular, on 28 February 2025, Liberty UK and Europe Holdings Limited, the sole owner of Liberty Insurance Limited, signed an agreement with Chubb INA International Holdings Ltd. to transfer the entire charter capital of Liberty Insurance Limited. The transaction in Vietnam is expected to complete in 2026, subject to certain completion conditions and regulatory approvals by the competent authorities in accordance with the applicable laws.

The sale includes the transfer of operation of LMG Insurance Public Company Limited (LMG Insurance), a top 10 motor and non-life insurer in Thailand, and Liberty Insurance Limited, one of the leading retail motor insurers in Vietnam. The majority of each company’s written premiums is motor insurance, and both also offer accident and health and other property casualty products through multiple distribution channels.

This transaction allows Liberty Mutual to focus on its portfolio in Asia Pacific, projected to be the largest property and casualty insurance market by 2045. The company will continue to execute on its strategy to capitalize on the greatest opportunities in the region through remaining operations in Australia, China, Malaysia, Hong Kong, Singapore and India.

“Thailand and Vietnam are well-performing businesses with real potential, and this transaction aligns them with an organization that has the strategy and commitment to invest in the development of these markets,” said Liberty Mutual President and Chief Executive Officer Tim Sweeney. “We are grateful to our teams who have been dedicated to serving the needs of our clients, brokers and partners in these markets.”

Goldman Sachs acted as financial advisor, and Baker McKenzie, Thailand and Baker & McKenzie (Vietnam) Ltd. provided legal advice to Liberty Mutual in the transaction.

Frequently Asked Questions - Answering Your Concerns

At Liberty Insurance, we are committed to continuously enhancing our product value and service quality to bring you the best benefits. If you have questions or any concerns, please contact our hotline at 1800 599 998 (24/7, domestic toll-free) or email us at hotline@libertyinsurance.com.vn for dedicated support.

1. Summary of our announcement

As part of Liberty Mutual Insurance Group’s strategic vision to create greater value for our partners, we are pleased to inform you that Liberty Mutual has agreed to transfer its business operations in Vietnam and Thailand to Chubb Limited (“Chubb”). This transfer aligns with the broader strategy of both companies, aiming to strengthen market presence, expand distribution networks, and enhance our competitive capabilities in Vietnam and the region.

The transition process is expected to be completed in 2026, subject to certain completion conditions and regulatory approvals by the competent authorities in accordance with the applicable laws.

2. Am I going to be covered?

Your policy services and coverage remain unchanged. We want to emphasize our commitment to maintaining a strong relationship with you, and all our customers and partners. As always, we are going to keep you informed about updates in our operation and the seamless transition with Chubb.

If you have any questions or concerns, please contact our hotline at 1800 599 998 (available 24/7, toll-free) or email us at hotline@libertyinsurance.com.vn for dedicated support.

3. I just filed a Claim/have a Claim in progress/waiting for a refund, is it going to be canceled or affected?

The Claims operations remain unchanged. If you have any request or ongoing process, it will proceed as usual. We want to emphasize our commitment to maintaining a strong relationship with you.

4. Impacts on Liberty’s Contracts and Services

We want to emphasize our commitment to maintaining a strong relationship with you, and all our customers and partners. Our services and operations remain unchanged. We will continue to provide you with the best possible services.

5. My policy is coming up for renewal, which company will issue the policy - Chubb or Liberty?

While we work on this integration with Chubb, we will be continuing business as usual operations and remain committed to servicing our policy holders. We will keep you updated if anything changes.

6. Are the emergency services going to be affected?

The assistance service operation remains unchanged. You can request them at any time on our channels as it’s covered in your policy. All existing contact information, including phone numbers, email addresses, and mailing addresses, will remain unchanged. We want to emphasize our commitment to maintaining a strong relationship with you, and all our customers and partners.

We are committed to continuously enhancing our product value and service quality to bring you the best benefits.

If you have any questions or concerns, please contact our hotline at 1800 599 998 (24/7, miễn phí) or email us at hotline@libertyinsurance.com.vn for dedicated support.