CORRECTED-Talanx sells Ecuadorian unit acquired through Liberty Seguros deal
Corrected mispelling of Ecuadorian in headline
By Rebecca Delaney
Feb 25 - (The Insurer) - Talanx Group's retail international division is selling its Ecuadorian entity to Honduran financial conglomerate Grupo Financiero Atlántida.
Sale allows Talanx to focus on profitable growth in large markets
HDI Seguros Ecuador had $36 million gross premium volume in 2024
Transaction with Grupo Financiero Atlántida to close in 2025, pending approvals
Talanx acquired the Ecuadorian entity last year through the acquisition of various Liberty Mutual operations in Latin America. Talanx said the sale of HDI Seguros SA will enable the retail international division to consolidate its portfolio in Latin America, as well as to focus on profitable growth in large markets as according to the group's strategy.
HDI Seguros Ecuador generated a gross premium volume of $36 million in 2024.
HDI International AG acquired the company from Liberty Seguros in 2024 as part of a larger transaction in which it also bought entities in Brazil, Chile and Colombia, with a total gross premium volume of around 2 billion euros.
Talanx had also previously completed the acquisition of certain Liberty Mutual operations in Brazil in November 2023, a move which pushed its HDI subsidiary to become the second-largest P&C insurer in the country.
The remaining deals took HDI to be the largest P&C insurer in Chile, the seventh biggest in Colombia, and ranked number 15 in Ecuador.
The transaction with Grupo Financiero Atlántida is expected to close in 2025 and is subject to approval by the relevant supervisory authorities. Terms of the transaction were not disclosed.
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