Talanx sells its Ecuadorian subsidiary to Grupo Financiero Atlántida

HDI Seguros S.A. in Ecuador sold to Grupo Financiero Atlántida
Focus on profitable growth in large markets in line with the Group's strategy

The Retail International division of the Talanx Group is selling its Ecuadorian entity HDI Seguros S.A. to Grupo Financiero Atlántida, a financial conglomerate from Honduras.

The sale enables the Retail International division to consolidate its portfolio in Latin America and focus on its largest operations in the region.

HDI Seguros Ecuador generated a gross premium volume of USD $36 million (EUR 35 million) with 141 employees 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 EUR 2 billion (2023).

The transaction is expected to close in 2025 and is subject to approval by the relevant supervisory authorities. The parties have agreed not to disclose details of the selling price.

Footnote: The exchange rate used to convert the premium volume of the Liberty transaction is from 31 December 2023: BRL/EUR = 5.36, CLP/EUR = 947.07, COP/EUR = 4,290.98, USD/EUR = 1.11

The exchange rate used to convert the premium volume of HDI Seguros Ecuador is from 31 December 2024: USD/EUR = 1.04

Disclaimer

This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.