Liberty Mutual Insurance has purchased Malaysian insurer AmGeneral Insurance Berhad.
The merged firm will enter into a 20-year bancassurance partnership with AmBank to distribute insurance products.
“The acquisition of and subsequent merger with AmGeneral is instrumental in our aspiration to become a leading global property and casualty insurance company,” said Jim MacPhee, Liberty Mutual president of global retail markets. “Together, we will help people embrace today and confidently pursue tomorrow so that individuals and businesses in Malaysia grow and win together. Combining Liberty’s global capabilities with the strong team driving a well-respected and valued AmGeneral franchise will create a best-in-class insurance operation.”