From left to right: Carlos López, Jochen Sand, Alejandro Jiménez, Paula Greene, Nicolás Masjuan, Felipe Feres, Wilm Langenbach, Diego Granger, Roberto Larraín, Jorge Moreno
Talanx Group’s retail international division HDI International, which completed its swoop for Liberty Seguros in Brazil last November, has now closed its acquisition of Liberty Seguros in Chile, Colombia, and Ecuador.
With the finalized transaction, HDI becomes number one in property & casualty insurance in Chile; number seven in Colombia; and number 15 in Ecuador. In Brazil, HDI is now number two.
“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,” Talanx noted. “Combined with the acquisition in Brazil that closed in November, the annual premium income will likely increase by around €1.7 billion.”
HDI International AG chief executive Dr Wilm Langenbach commented: “The acquisition is a major milestone in our strategic success story in Latin America. We are delighted to have advanced into the top two 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 in the Latin American market.”
Nicolas Masjuan, responsible for Latin American operations at HDI International, pointed out the deal’s significance in bolstering the insurance group’s market presence.
“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,” Masjuan highlighted.
Also part of the multi-country Liberty Seguros deal is the Liberty Specialty Markets direct insurance business in Chile and Colombia.
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