Talanx Group’s Retail International Division, headed by HDI International AG, has completed the acquisition of the business of Liberty Seguros in Chile, Colombia and Ecuador, making it the second-largest property and casualty insurer in Latin America.
Based on the results for the full 2022 financial year, HDI expects to boost the premium in these countries by altogether more than €600 million.
Combined with the acquisition in Brazil that closed in November, the annual premium income is reported to likely increase by around €1.7 billion.
Dr Wilm Langenbach, a member of the Board of Management of Talanx AG with responsibility for the Retail International Division and Chief Executive Officer of HDI International AG, commented, “The acquisition is a major milestone in our strategic success story in Latin America. We are delighted to have advanced into the top 2 P&C insurers as a result of all Liberty acquisitions.
“I’d like to extend a warm welcome to our new colleagues, distribution partners and customers in Chile, Colombia and Ecuador.
“I have no doubt that we shall combine our know-how and global resources with the skills and experience of Liberty Seguros and thereby enhance our power of scale, innovation and competitiveness for the benefit of our distribution partners and customers on the Latin American market.”
Nicolas Masjuan, a member of the Management Board of HDI International AG responsible for business in Latin America, added, “The transaction makes us the P&C market leader in Chile, significantly strengthens our market position in Colombia, allowing us to become the second largest motor insurer, and opens a new market for HDI in Ecuador.
“This move opens up new opportunities and positions HDI as a leading player, enabling us to offer our customers and distribution partners an even stronger value proposition over the long term.”
