Nearly a decade after entering the market, the American insurance giant Liberty is exiting Poland. Its owner, Liberty Mutual, has reportedly already put its Polish business on the market. According to Puls Biznesu daily, the selling process is in the initial stage, as the seller is still looking for an investment bank to oversee the sell-off. The offers to potential buyers should be sent out in September
The newspaper claims that the US insurer failed to expand its market share over past nine years and built up a team of just 8,000 agents. Nevertheless, some observers predict that Liberty could get a an attractive price for its Polish business thanks to high demand for insurance companies seen during the acquisitions of Link4 (€90m) and BRE Ubezpieczenia (PLN 570m).
