NU Online News Service, Jan. 9, 2004, 1:03 p.m. EST – Liberty Mutual Insurance Company, Boston, has completed previously announced plans to acquire the Spanish operations of MetLife Inc., New York.[@@]
Liberty Insurance Group S.A., a Liberty unit in Spain, bought MetLife Iberia S.A., Madrid, along with MetLife Iberia’s life and non-life insurance subsidiaries.
The price of the deal was not available.
MetLife began selling life insurance and retirement savings products in Spain under the “Genesis MetLife” brand name in 1988, and it entered the Spanish auto insurance and homeowners insurance markets in 1990. Genesis MetLife now has 18 sales branch offices in Spain and one branch in Lisbon, Portugal.