Liberty Mutual Insurance has announced that it has completed the acquisition of the business and operations of certain European businesses of AmTrust Financial Services, following the satisfaction of customary closing conditions.
Under the transaction, Liberty Mutual Insurance has acquired the operations of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain.
Tim Mikolajewski, President, Global Surety, Global Risk Solutions, Liberty Mutual, commented: “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.
“Acquiring these businesses supports our goal of becoming a top-three global commercial and specialty lines (re)insurer by providing a platform for broader global expansion through increased market share, compatible portfolio additions, and key international talent.”
Liberty Mutual announced in April a definitive agreement to acquire AmTrust’s global surety and credit reinsurance operations. Revealing later in the year the successful takeover of the firm’s U.S. Surety operation.