Talanx Group’s Retail International division has agreed to divest HDI Seguros, its Ecuadorian entity, to Honduras-based financial conglomerate Grupo Financiero Atlántida.
Financial details of the deal remain undisclosed.
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The move is part of the division’s strategy to consolidate its portfolio and focus on larger operations within Latin America.
HDI Seguros Ecuador was acquired by HDI International from Liberty Seguros in 2024. The business reported a gross premium volume of $36m (€34.24m) in the same year.
This acquisition was part of a transaction that also included entities in Brazil, Chile and Colombia, contributing to a total gross premium volume of approximately €2bn in 2023.
The deal is set for completion in 2025, pending clearance from supervisory authorities.
HDI Seguros is part of HDI International AG, which operates across Europe and Latin America, including markets such as Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.
With over 120 years of history and a global presence in more than 175 countries, HDI Seguros has more than 24,000 collaborators worldwide.
The company is one of the five core businesses of the Talanx Group, alongside Mexico, Brazil, Poland and Turkey.
Earlier this month, HDI Global Insurance, a subsidiary of HDI Global, introduced a new environmental liability product line in the US.
Lindsay Judd has been appointed as the lead underwriter for this new unit and will be responsible for overseeing the product line from her base in the San Francisco Bay Area.
