Talanx Group’s retail international division has agreed to sell its Ecuadorian subsidiary, HDI Seguros S.A., to Grupo Financiero Atlantida, a financial conglomerate based in Honduras.
Financial terms of the deal were not disclosed.
The sale aligns with the Retail International division’s strategy to consolidate its portfolio in Latin America and focus on its larger operations in the region.
HDI Seguros Ecuador reported a gross premium volume of US$36 million (€35 million) in 2024 and employed 141 people. HDI International AG acquired the company from Liberty Seguros in 2024 as part of a wider transaction, which also included entities in Brazil, Chile and Colombia, with a combined gross premium volume of approximately €2 billion in 2023.
The transaction is expected to be completed in 2025, subject to approval by the relevant supervisory authorities.
In H1 of 2024, Talanx Group’s net income surged 32% to €1.09 billion, marking the first time the company’s net income surpassed €1 billion. Its reinsurance division also reported a 5% increase in insurance revenue to €12.9 billion in the first half, supported by a strong performance in the property and casualty reinsurance segment.
For the full-year, the company said it had met its earnings target, reporting group net income of €1.98 billion, up from €1.58 billion a year earlier. Insurance revenue rose to €48.1 billion from €43.2 billion a year ago.
The company also recently disclosed its three-year targets, particularly a 30% rise in net income by 2027, and a boost on its return on equity to consistently exceed 12%. The company also projects to raise its dividend per share to €4.00 by 2027.
Meanwhile, group net income for 2025 is projected to surpass €1.9 billion, reflecting a growth rate of more than 50% since 2022.
Talanx is a major European insurance group with insurance revenue of around €43.2 billion and roughly 28,000 employees worldwide. Based in Hannover, the group is active in more than 175 countries.
