Liberty Seguros, subsidiary of US based Liberty Mutual Insurance Group, is selling its group, labor and individual life insurance business in Colombia to local insurer Seguros Bolivar. Finalization of the transaction is subject to the approval of Superfinanciera, the Financial Superintendence of Colombia and the other contractual conditions.
“Liberty Seguros will continue to focus on its operations in Colombia in its business units for companies and individuals, except Occupational Risks and Individual Life, with the Liberty Seguros Generales company, where for more than 20 years it has maintained a competitive position,” said Luiz Francisco Campos, CEO of Liberty Seguros. “Under the new management, Seguros Bolívar will continue to provide first class service, and in the same way, the service and talent of the Liberty Seguros team will accompany the transition process, which we are sure will be beneficial for clients.”
Seguros Bolívar is an insurer with nearly 80 years of experience in Colombia. Javier Suárez, President of Seguros Bolívar, said that “this decision confirms our commitment to protecting the future of Colombian families, workers and companies. We are confident that the capabilities of Seguros Bolívar will be a great complement for clients and intermediaries, who will receive the exceptional service that characterizes us, once the acquisition is formalized “.
Photo: Javier Suárez President of Seguros Bolívar and Luiz Francisco Campos ,President Liberty Seguros Colombia.