Liberty Mutual sells Brazilian, Chilean, Colombian and Ecuadorian businesses

On the closure of the deal, the total value of which is approximately $1.48 billion, Talanx Group is expected to become the third-largest insurer by premium income in property/casualty business in Latin America.

The transaction is subject to regulatory authorizations in various jurisdictions and must comply with other usual conditions for this type of transaction.

The deal covered the jurisdictions of the United States, Chile, Brazil, Colombia and Ecuador.

Liberty Mutual was advised on the deal in Chile by local law firm Carey, with a team comprising partners Marcos Ríos, Matías Vergara and José Pardo, with associates Pedro Gutiérrez, Valentina Kuscevic, Daniela Pfeffer, Juan Pablo de la Maza, Fernanda Pardo, Jorge Soto and Javiera Herrera.

Law firm Skadden acted as counsel to Liberty in New York, with a team led by partner Elena M. Coyle, with associates Caroline Frizzo and Matthew Roberts.

Brigard & Urrutia acted as counsel to Liberty in Colombia, with a team led by partner Darío Laguado Giraldo, with associates Laura Ricardo Ayerbe and María Paz Canal.

In Ecuador, Liberty was advised by Pérez Bustamante & Ponce, with a team led by partner Diego Pérez Ordóñez, with associate Juan Francisco Simone.

Liberty’s in-house attorneys that advised on the transaction were Francisca Larraín, VP legal & compliance for the Andes market; Marcos Arenas, country manager Colombia & Ecuador; Katy Mejía, chief legal officer Colombia; Paulina Zambrano, chief legal officer Ecuador, and Pablo Advis, chief legal officer Chile.