HARTFORD, CONN. The Hartford Financial Services Group Inc. said Monday that it is selling its Hartford Seguros of Bilbao, Spain, to Liberty International, a subsidiary of Liberty Mutual Group of Boston.
The price and scheduled closing date were not disclosed.
Hartford Seguros, which would be renamed Liberty Seguros, provides personal property and casualty and life insurance in Spain. In the first three quarters of last year it sold $74.2 million of premium.
Its completion of the acquisition would be Liberty Internationals entry into Spain. It already has operations in Argentina, Australia, Bermuda, Brazil, Canada, China, Colombia, Hong Kong, Ireland, Japan, Singapore, Thailand, the United Kingdom, and Venezuela.
Liberty Mutual sells a variety of personal lines, commercial lines, and life and health insurance products. The Hartford offers investment products, reinsurance, life insurance, employee benefits, and personal property and casualty products.