Liberty Mutual Insurance Agrees to Sell Vietnam Operation to Chubb

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.