HDI International completes purchase of Liberty Seguros in Colombia, Chile and Ecuador

In May 2023, the agreement to sell the operations of Liberty Mutual Insurance was announced, for which they agreed to pay approximately US$1,587 million.
The operations of Liberty Seguros to HDI International in Colombia, Chile and Ecuador were subject to the approval of the regulatory agencies of the three countries. The transaction was finally finalized on March 1, 2024, after the last approval in Colombia.

Liberty Seguros' operations with HDI International in Colombia, Chile and Ecuador are subject to the approval of the regulatory agencies of the three countries. The transaction was finally finalized on March 1, 2024, after the last approval in Colombia.

"This acquisition is an important milestone for our strategy in Latin America. We are excited to have become the second largest Property & Casualty insurer in the region as a result of all of Liberty's acquisitions," says Wilm Langenbach, member of the Board of Directors of Talanx AG responsible for the Retail International Division and CEO of HDI International.

"The transaction makes us the market leader in general insurance in Chile, significantly strengthens our market position in Colombia, enabling us to become the second largest auto insurer and opens a new market for HDI in Ecuador," says Nicolás Masjuan, responsible at HDI International for business in Latin America and Chairman of the Board of HDI Colombia.

The Country Manager of HDI Seguros in Colombia, Luiz Francisco Minarelli Campos, explained that from now on the operations of Liberty Seguros will be controlled by Talanx and that during 2024 progress will continue to be made in an eventual legal merger and integration of the operations.

Regarding the operation of both companies, Minarelli Campos emphasized that "in the short term, both Liberty and HDI will continue to operate independently, maintaining coverage, terms and commitments. In practice, there will be no radical changes for intermediaries, commercial partners and clients".