Generali, a global insurance and asset management provider, agreed to acquire Liberty Seguros, a personal lines and small commercial insurance business, from Liberty Mutual Insurance, a diversified global insurer, for $2.3bn. “Our dedicated Liberty Seguros employees have done a tremendous job serving our customers, brokers, agents, partners and communities -- building a highly respected and profitable business. They will be a strong addition to Generali, a leading global insurer with a strategic and adept business model. This decision further helps Liberty Mutual sharpen our operational focus to deliver exceptional value across our channels, products and markets. We’re grateful to our employees for their many years of hard work and are confident in their future success with Generali,” Tim Sweeney, Liberty Mutual President and CEO.