Liberty Mutual Insurance finalises acquisition of AmTrust business

Liberty Mutual Insurance finalises acquisition of AmTrust business | Insurance Business

Liberty Mutual Insurance finalises acquisition of AmTrust business

Finally meeting customary closing conditions, Liberty Mutual Insurance has completed the acquisition of both the business and operations of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain.

In April, Liberty Mutual announced a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust. Terms of the deal were not disclosed.

Two months later, Liberty Mutual closed its deal to acquire AmTrust Surety – the US-based surety operations of AmTrust.

“Completing the acquisition of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain further strengthens our strong global surety and reinsurance expertise, market leadership and geographic scope,” said Liberty Mutual president of global surety and global risk solutions Tim Mikolajewski.

Mikolajewski added that acquiring these three businesses supports Liberty Mutual’s goal of becoming a top global commercial and specialty lines (re)insurer.

Presently, Liberty Mutual employs nearly 50,000 people in 30 countries around the globe.