Liberty Mutual Group friday announced the closing of its approximately $550 million purchase of Prudential Financial, Inc.'s (NYSE: PRU) U.S. personal lines property and casualty operations.
"This furthers Liberty Mutual's growth strategy in a consolidating personal insurance marketplace," said J. Paul Condrin III, executive vice president of Liberty Mutual's Personal Market, "and this acquisition adds nearly 25 percent to our personal lines business - enhancing our expense advantage, maintaining competitive pricing for our customers and providing new opportunities for our employees." The tr...
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