Liberty Mutual Group on Monday announced a blockbuster deal to acquire the Ohio Casualty Group of regional insurance companies for approximately $2.7 billion.
The deal would pair Liberty Mutual and its nationwide sales force with a regional group that had $1.4 billion in written premium last year. The group includes Ohio Casualty Co., which is licensed to 49 states and writes workers' compensation in many of them.
Liberty Mutual will pay $2.7 billion for Ohio Casualty, and said Monday it will fund the purchase with cash and short-term debt.
The boards of directors of both compani...
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