Liberty Mutual Group has entered the Chilean insurance market with the purchase of AGF Allianz Chile SA.
The company would be renamed Liberty Seguros and would offer a full range of property casualty products for commercial and personal customers, said Liberty.
The deal went through for a consideration of €39m (£26.3m).
“Chile is a very attractive market and this acquisition fits very well into our Latin American strategy,” said Liberty Mutual chairman, president and chief executive Edmund Kelly.
“This is an opportunity to acquire a market leader with a reputation for quality service and innovation.”
Liberty Mutual Group operates insurance companies in Venezuela and Colombia, and has a significant presence in Brazil and Argentina.
