Talanx announced that its HDI International subsidiary has reached a deal to purchase the Latin American business of Liberty Mutual Insurance for about 1.38 billion euros ($1.48 billion), which would boost the company’s position in the area.
On Saturday, the German insurer stated that the transaction includes Liberty’s retail operations in the countries of Brazil, Chile, Colombia, and Ecuador.
According to the company, the purchase would position Talanx as one of the top insurers in Latin America by adding around 1.7 billion euros worth of gross written premiums.
According to Talanx, the transaction is anticipated to be finalized within the first half of 2024, if it receives the necessary authorization from the appropriate governmental and regulatory agencies.
