Liberty Mutual may well be joining a host of other US-based insurers in divesting from their European operations. Having partnered with Bank of America to carry out the sales, the American carrier is weighing up putting its Spain, Portugal and Ireland operations up for grabs.
As of yet, there’s been no comment from Liberty Mutual or Bank of America but while talks are in their infancy there could be a lot of interest from European insurers looking to get a tighter hold on the region.
MetLife sold its European life insurance business to NN Group for around $700 million in July 2021 in an effort to make their operations more efficient and with Liberty’s growth in the US P&C market this may be the best time to capitalise.
Source: https://www.thebharatexpressnews.com/liberty-mutual-is-exploring-sales-of-european-companies-for-1-billion/