Talanx Group acquires Liberty Seguros in Colombia Chile and Ecuador

Talanx Group is a major German insurance company based in Hannover, Germany. It is one of the largest insurance groups worldwide. Talanx operates in more than 150 countries, providing a wide range of insurance and financial services to both retail and industrial clients.

The deal, valued at €1.38 billion, marks a significant milestone in the expansion of Talanx Group, positioning it as the second-largest property and casualty insurer in Latin America. This strategic acquisition is set to significantly enhance HDI's footprint in the region.

Talanx Group was advised on the acquisition by Ecuadorian law firm Bustamante Fabara.

"We are delighted to support HDI International in this landmark transaction, which is poised to reshape the insurance landscape in Latin America,” said José Rafael Bustamante Crespo, a partner at the firm.

The acquisition reflects HDI's commitment to growing its international presence and strengthening its portfolio. With this move, HDI International is expected to increase its premium volume by more than €600 million in Chile, Colombia, and Ecuador alone, based on the results for the full 2022 financial year. This growth is anticipated to contribute to an overall annual premium income increase of around €1.7 billion for HDI, following the integration of the acquisition in Brazil that was completed in November.

The transaction, which closed on March 1, demonstrates the strength and potential of HDI's strategic investment in Latin America.

Bustamante Fabara’s team was led by José Rafael Bustamante Crespo, with Kirina González, and Valentina Morillo.

Talanx was also advised by Hogan Lovells, with a team led by partners Peter Cohen-Millstein, Birgit Reese and Isabel Carvalho, with associates Felipe Borges Lacerda and Zachary Suggs, and visiting lawyer Aafke Pronk.

Colombian law firm Posse Herrera Ruiz also advised Talanx, with a team led by partner Jaime Cubillos, with associates Catalina Noreña, Manuela Jaramillo, Laura Aristizábal, Julián Aguirre, Andrés Betancourt and Juliana Pérez, while Chile’s Claro & Cía’s team was led by partner Juan León, with counsel Philippa Cooper.