Liberty Mutual keeps Hughes in near £2bn assets sale to Generali
Liberty Mutual Insurance has held on to Northern Ireland-based broker Hughes Insurance as it struck a deal to sell its personal lines and small commercial operations in Western Europe to Generali for €2.3bn (£1.97bn).
The deal will see Madrid-headquartered Liberty Seguros transfer to the Italian insurer including operations in Northern Ireland, Ireland, Portugal and Spain.
Liberty bought the general insurance business in Ireland of Quinn Insurance in 2011.
However, Liberty Specialty Markets, Liberty Mutual Reinsurance, Liberty Mutual Surety, Liberty IT and Hughes Insurance are not included in the transaction.
Related Europe clears Liberty Mutual’s Quinn Insurance takeover
Liberty bought
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