The Deal Positions Liberty Mutual Surety for Continued Growth in Europe
BOSTON (September 18, 2023) – Liberty Mutual Surety (LMS) announced today an agreement to acquire the House of Guarantees (HOGS), a managing general agent headquartered in Oslo, Norway. The deal is subject to the approval of regulators and is expected to close early next year. Additional terms of the transaction were not disclosed.
HOGS, a leading Norwegian guarantee provider, has issued guarantees for LMS since 2018.
Under the agreement, LMS retains HOGS’ portfolio of approximately 450 customers and its employees join Liberty Mutual when the deal closes. There will be no business disruption to HOGS brokers and customers.
The acquisition gives LMS a stronger presence in Norway and Sweden, and top industry talent with a proven record of profitable growth, beyond positioning LMS for continued European growth.
“Acquiring HOGS underscores our commitment to the European guarantee market,” said LMS President Tim Mikolajewski. “It simplifies our relationships with customers and allows us to write business more seamlessly.”
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people and businesses feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the fifth largest global property and casualty insurer based on 2022 gross written premium. We also rank 86 on the Fortune 100 list of largest corporations in the US based on 2022 revenue. As of December 31, 2022, we had $50 billion in annual consolidated revenue.
We employ over 50,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.
Contact: Liberty Mutual Insurance Public & Media Relations