Liberty Insurance DAC business transfer to and merger with Liberty Seguros
Our customers in Ireland are very important to us, which is why we are advising you of our plans as early as possible and to reassure you that no action is required on your part, nor will your cover be affected.
The Liberty Mutual Group is making applications in Ireland, Spain and Portugal to consolidate the insurance activities of its operations in those countries into a single regulated entity in Spain. As part of this process, the insurance business of the Liberty Mutual Group's operations in Ireland and Portugal will transfer to a Spanish affiliate, Liberty Seguros Compañía De Seguros y Reaseguros, S.A. (Liberty Seguros). This process, which is subject to regulatory and Irish High Court approval, is expected to take effect from 31 December 2018 or as soon as possible thereafter.
Upon completion of the consolidation process referred to above, we will continue to trade in Ireland through an Irish branch of Liberty Seguros, will retain the business name 'Liberty Insurance', and will continue to be regulated in Ireland for conduct of business rules by the Central Bank of Ireland. Our offices in Dublin and Cavan, along with our Call Centre in Enniskillen, will not be impacted by the business transfer and the merger.
Just like us, Liberty Seguros is a part of the Liberty Mutual Group, a Fortune 100 company and a leading international insurer, employing over 50,000 people in more than 800 offices throughout the world.
This change will not negatively impact customers or customer policies in any way. We are committed to the Irish market, our 250,000 customers, our people and our broker partners who we work with across our motor, home and commercial product portfolios. Supporting the local communities in which we do business is very important to us; we are proud to continue our title sponsorship of the Camogie Championship, as part of our wider commitment to Women in Sport for the next 3 years.
Further information on the business transfer and merger is available below.