Liberty Mutual Insurance Co. announced Friday that it will sell its life and disability insurance unit to Lincoln Financial Group for about $3.3 billion, Business Insurance reported. Through its purchase of Boston-based Liberty Life Assurance Co., which provides group disability, group life, individual life and annuity products, ”Lincoln Financial will have a significantly increased presence in the group benefits market by complementing our existing small- to middle-market strengths with even deeper large case and disability expertise,” Dennis Glass, president and CEO of Lincoln Financial, said in a statement. The transaction is expected to be completed in the second quarter of 2018, pending regulatory approvals. After the sale, Liberty Mutual will divide its commercial property/casualty business into two units, Global Risk Solutions and Global Retail Markets.