Liberty Mutual Group of Boston announced Monday that it has completed its acquisition of Ohio Casualty Corp., the holding company of Ohio Casualty Insurance Co. and five other property and casualty insurance companies.
Ohio Casualty will join Liberty Mutual's Agency Markets business unit, which consists of regional property and casualty and specialty insurance companies that distribute through independent agents and brokers.
According to 2006 results compiled by A.M. Best Co., the acquisition makes Liberty Mutual Agency Markets the largest regional provider of property and casualty products distributed through independent agents in the United States. Liberty Mutual Agency Markets' net written premium was $5.9 billion last year and Ohio Casualty's was $1.4 billion. Liberty Mutual Group's consolidated net written premium in 2006 was $20.6 billion.
The deal was announced May 7. The price was not disclosed.
