Liberty Insurance merger admitted to Commercial Court list

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Liberty Insurance DAC’s proposed cross-border merger was admitted to the fast-track Commercial Court list on 16 July 2018, with the application returned to October. The company said its 400 Irish employees would retain their labour conditions, rights and benefits if the merger proceeds.

The proposed transaction would transfer Liberty Insurance DAC’s non-life assurance business and remaining assets, liabilities and obligations to Spanish entity Liberty Seguros Compania De Seguros Y Reaseguros SA. The court was told the merger formed part of plans to consolidate the group’s insurance businesses in Ireland, Portugal and Spain and improve capital efficiency.