Nationale Borg transfers its bond and guarantee portfolio from AmTrust International Underwriters DAC to Liberty Mutual Insurance Europe SE
AMSTERDAM (April 15, 2020) – Nationale Borg, who was acquired by Liberty Mutual Insurance Company from AmTrust Insurance in October 2019, announced today that it has transferred its bond and guarantee portfolio from AmTrust International Underwriters DAC (AIU DAC) to Liberty Mutual Insurance Europe SE (LMIE SE).
LMIE SE, an insurance company established and authorized in Luxembourg, is rated “A” (Stable) by Standard & Poor’s.
“This is very exciting news for Nationale Borg customers, who benefit from a financially sound company,” said Liberty Mutual Insurance Europe Managing Director and head of Nationale Borg Jos Kroon. “Being part of a mutual company that is entirely focused on its customers is a win for Nationale Borg and our customers.”
Aside from the substitution of LMIE SE for AIU DAC, the transfer does not impact the terms and conditions of the facility agreement and the issued bonds and guarantees.
About Nationale Borg
Nationale Borg is a member of Liberty Mutual Group. With approximately 70 staff, we have been an important non-bank provider of guarantees for businesses in the Netherlands and Belgium for 126 years. Nationale Borg primarily provides guarantees for the construction and capital goods industries, guarantees for transport and logistics companies, and WGA guarantees.
You can learn more about us by visiting https://www.nationaleborg.nl/en/
About Liberty Mutual Insurance
Liberty Mutual’s purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care.
In business since 1912, and headquartered in Boston, Mass., today we are the sixth largest global property and casualty insurer based on 2019 gross written premium. We also rank 75th on the Fortune 100 list of largest corporations in the U.S. based on 2018 revenue. As of December 31, 2019, we had $43.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
You can learn more about us by visiting www.libertymutualinsurance.com
