Lincoln Financial Group completed the acquisition of Liberty Life Assurance Company of Boston from Liberty Mutual Insurance Group for $3.3bn.

Lincoln Financial Group, a financial services and solutions company, completed the acquisition of Liberty Life Assurance Company of Boston, an insurance company, from Liberty Mutual Insurance Group, a global insurer, for $3.3bn. “With the completion of this transaction, we have significantly increased our presence in the group benefits market while executing on our strategic priority to diversify our sources of earnings and leverage the strength of our balance sheet. We are also pleased to extend a warm welcome to the many talented employees joining us from Liberty, as they augment our already impressive team and will enable us to achieve even higher levels of success on behalf of our customers and shareholders," Dennis R. Glass, Lincoln Financial Group, President and CEO.