Talanx Group’s Retail Worldwide division has agreed to divest HDI Seguros, its Ecuadorian entity, to Honduras-based monetary conglomerate Grupo Financiero Atlántida.
Monetary particulars of the deal stay undisclosed.
The transfer is a part of the division’s technique to consolidate its portfolio and concentrate on bigger operations inside Latin America.
HDI Seguros Ecuador was acquired by HDI Worldwide from Liberty Seguros in 2024. The enterprise reported a gross premium quantity of $36m (€34.24m) in the identical yr.
This acquisition was a part of a transaction that additionally included entities in Brazil, Chile and Colombia, contributing to a complete gross premium quantity of roughly €2bn in 2023.
The deal is about for completion in 2025, pending clearance from supervisory authorities.
HDI Seguros is a part of HDI Worldwide AG, which operates throughout Europe and Latin America, together with markets similar to Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.
With over 120 years of historical past and a worldwide presence in additional than 175 nations, HDI Seguros has greater than 24,000 collaborators worldwide.
The corporate is without doubt one of the 5 core companies of the Talanx Group, alongside Mexico, Brazil, Poland and Turkey.
Earlier this month, HDI International Insurance coverage, a subsidiary of HDI International, launched a brand new environmental legal responsibility product line within the US.
Lindsay Judd has been appointed because the lead underwriter for this new unit and shall be liable for overseeing the product line from her base within the San Francisco Bay Space.
