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Liberty Mutual to purchase Chilean insurer for $162.2 million

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U.S.-based Liberty Mutual Holding Co. Inc. has agreed to purchase Chilean insurer Compania De Seguros Generales Penta Security S.A., reported Bloomberg.

The Chilean insurer said that Liberty would pay 105 billion Chilean pesos ($162.2 million) for the sale.

Luis Bonell, president of Liberty International at Liberty Mutual, said that the insurer has "seen consistent results in Chile and believes in the future growth it can offer."

"Penta offers a strategic complement to the business in the country and region," said Mr. Bonell.

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