By Adria Calatayud
Talanx said its HDI International subsidiary has signed an agreement to buy Liberty Mutual Insurance’s Latin American business for around 1.38 billion euros ($1.48 billion), strengthening its position in the region.
The German insurer said Saturday that the deal comprises Liberty’s retail business in Brazil, Chile, Colombia and Ecuador.
The acquisition will make Talanx one of the largest insurers in Latin America by adding gross written premiums of around EUR1.7 billion, it said.
The deal, which remains subject to approval by relevant governmental and regulatory authorities, is expected to close in the first half of 2024, Talanx said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
Read the full article here
