It’s official: Liberty Insurance (JSC) is no longer an affiliate of Liberty UK and Europe Holdings Limited. The latter, a Liberty Mutual subsidiary, has completed the sale of its Russian unit to PJSC Sovcombank.
That means motor insurance specialist Liberty Insurance (JSC) is now owned by the lender, which is described as the number four car loan provider in Russia. The bank said the acquisition will make its proposition to car manufacturers and car owners “more rounded” while adding another source of stable fee and commission income to Sovcombank.
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