Liberty Mutual Insurance, a P&C insurer, has acquired Primero Fianzas, a Mexican surety company from Grupo Valores Operativos Monterrey, which is a private investor group. The acquisition enables Liberty Mutual Surety, a business unit of Liberty Mutual’s Global Specialty business unit, to expand its international presence by entering Mexico. The parties have not disclosed the financial terms of the agreement, and the acquisition is subject to Mexican regulatory approval.
The company is the fourth-largest surety writer in Mexico, based on 2012 market share and ranks No. 1 in the Mexican credit surety segment.
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