Chubb Ltd. is on the verge of finalizing a deal to acquire Liberty Mutual Holding Co.’s operations in Thailand and Vietnam as part of its strategy to expand its footprint in Southeast Asia, sources familiar with the negotiations revealed. The transaction, which is expected to be announced as soon as Monday, is currently being finalized, according to the individuals who requested anonymity due to the private nature of the discussions.
Representatives from both Chubb and Liberty Mutual have yet to respond to requests for comment on the potential deal.
Liberty Mutual has been exploring the sale of its Thai and Vietnamese operations as part of a broader strategy to streamline its global business, Bloomberg News reported in December. The company has enlisted a financial advisor to assist with the potential sale, which could raise several hundred million dollars, according to sources.
This sale would follow a pattern of global divestitures by Liberty Mutual. In 2024, the U.S.-based insurer sold a portfolio of European businesses to Assicurazioni Generali SpA for approximately $2.5 billion, aligning with its strategy to exit non-core markets and focus on its U.S. property and casualty insurance business.
Chubb has been increasingly strengthening its presence in Asia in recent years. In 2022, the insurer acquired Cigna Group’s life, accident, and supplemental insurance businesses across seven countries for more than $5 billion, marking a significant step in its expansion across the Asia Pacific region.
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