Chubb has completed its acquisition of LMG Insurance in Thailand for $321 mn, marking a strategic expansion of its operations in Southeast Asia.
The deal is part of a broader agreement with Liberty Mutual to acquire its property and casualty businesses in both Thailand and Vietnam, as disclosed in a recent filing with the U.S. Securities and Exchange Commission.
As part of the transaction, Chubb reported $183 mn in recognized goodwill and $57 mn in intangible assets tied to the LMG acquisition.
The company stated that LMG’s results will be included in Chubb’s overseas general insurance segment, though they are not expected to have a material impact on consolidated financial performance.
LMG Insurance provides a portfolio of consumer and commercial property/casualty products, with motor insurance accounting for a significant share of its business. The product range also includes accident and health, fire/property, and industrial all-risk coverage, distributed through various channels.
Chubb described the acquisition as aligned with its long-term strategy to strengthen its presence in key growth markets across the Asia-Pacific region.
The company is also moving forward with plans to acquire Liberty Insurance in Vietnam, a transaction expected to close by early 2026, pending regulatory approval and satisfaction of other conditions.
The Vietnamese operation mirrors the Thai business in product scope, focusing heavily on motor insurance but also offering a diversified mix of personal and commercial lines.
Liberty Mutual previously stated that both businesses operate through multiple distribution networks, positioning them well for integration into Chubb’s regional platform.
This acquisition follows Chubb’s ongoing strategy to deepen its footprint in fast-growing insurance markets and expand its consumer and commercial P/C offerings through targeted international acquisitions.
