Industry News

Liberty Mutual Sells Latin America Personal, Small Commercial Businesses for $1.48B

The deal will make HDI International the third-largest player in the Latin American P&C market.

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Liberty Mutual sells everything from property and casualty to life insurance in Spain and Portugal through agents, banks and affiliates, according to its website. The company entered Ireland through an acquisition in 2011 and offers personal car and home insurance there, as well as business products. (Credit: User54871/Wikimedia Commons) “The acquisition is an important milestone in the implementation of our strategy to reach a top 5 position in our core markets across the property & casualty business by 2025, to further diversify our portfolio and to strengthen our technical excellence,” Wilm Langenbach, CEO of HDI International, said in a release. (Credit: User54871/Wikimedia Commons)

Liberty Mutual Insurance Inc. is selling its Latin American personal and small commercial businesses to The Talanx Group subsidiary HDI International AG in a deal valued at approximately $1.48 billion. The transaction is expected to close in the first half of 2024, Talanx reported.

Included in the deal are Liberty Seguros’ personal and small commercial businesses in Brazil, Chile, Columbia and Ecuador, according to the purchasing firm. Also included in the transaction is Liberty Specialty Markets’ direct insurance business in Brazil, Chile and Columbia.

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