Planned acquisition expected to make Liberty Mutual the largest auto insurer in Malaysia.
Liberty Mutual Insurance will be applying for regulatory approval to acquire Malaysian insurer AmGeneral Insurance Berhad. AmGeneral is currently 51%-owned by AmBank Group and 49%-owned by Insurance Australia Group (IAG). The acquisition is Liberty’s second this month in the auto insurance space. On July 12 Liberty Mutual announced the acquisition of the State Auto Group, a super-regional insurance holding company headquartered in Columbus, Ohio.
Subject to receiving appropriate regulatory approvals, Liberty Insurance Berhad will acquire 100% shares of AmGeneral, and AmBank Group’s share of the sale proceeds
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