Chubb announced that it has entered into acquisition agreements to purchase two property and casualty insurance subsidiaries under Liberty Mutual, namely LMG Insurance in Thailand and Liberty Insurance in Vietnam, to further expand its footprint across Southeast Asia’s commercial and personal insurance markets.

The two target entities provide personal and commercial property and casualty insurance products, including motor insurance, accident and health insurance, property insurance and industrial all-risk insurance. They operate a network of 56 physical branches, 2,600 cooperating brokers and agents, as well as 26 financial partners. Their combined net written premiums reached approximately USD 275 million in 2024.

The transaction for Thailand’s business is expected to close in the second quarter of 2025, while the Vietnam deal is slated to be completed between late 2025 and early 2026.