Liberty Mutual completes AmTrust transaction

Liberty Mutual has completed the takeover of the businesses and operations of Nationale Borg, Nationale Borg Reinsurance and AmTrust Insurance Spain, having meet the customary closing conditions.

Liberty Mutual in April announced its intention to acquire the global surety and credit reinsurance operations of AmTrust. By the end of the following month, the company closed its acquisition of AmTrust Surety, the US surety operations of AmTrust.

President of global surety, global risk solutions at Liberty Mutual, Tim Mikolajewski said: "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," he added.

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