Liberty Mutual to acquire Austral Seguradora
Liberty Mutual announced an agreement to acquire Austral Seguradora, a top-five Brazilian surety provider headquartered in Rio de Janeiro. The deal is subject to regulatory approval. Terms of the transaction were not disclosed.
Austral, a member of the Austral Holding Group, has served the Brazilian market since 2010. The acquisition includes Austral’s surety, financial lines, and casualty business. Under the agreement, Liberty Mutual will retain Austral’s portfolio without business or broker disruption, and its approximately 100 employees will join Liberty when the deal closes. Upon completion of the transaction, Liberty Mutual will be one of the largest surety providers in Brazil.
“Acquiring Austral underscores our commitment to be one of the leading guarantee providers in Brazil. Austral brings an experienced local team with top industry talent, strong broker and agent relationships, and technology-enabled underwriting and servicing capabilities. Its disciplined risk approach and market reputation align closely with Liberty’s global standards.” – Nate Zangerle, Liberty Mutual president, Global Surety.
“Brazil is one of the most important insurance markets in Latin America, and this acquisition reflects Liberty’s long-term commitment to the region. Bringing together Austral’s market expertise with Liberty’s global strength positions us to grow, deepen our relationships with brokers and clients, and deliver even greater value across Brazil and the wider region.” – Manuel Moreno, Liberty Mutual president and chief underwriting officer, LatAm & US, Liberty Specialty Markets.
“From the day we founded Austral, our goal was to build a specialty insurer defined by agility and innovation, always standing by our brokers and clients. Joining Liberty Mutual is a recognition of what our team has built and opens an exciting new chapter. Liberty’s global scale and its surety and specialty expertise provide an outstanding platform for continued growth, while preserving the service and relationships the market expects.” – Carlos Frederico Ferreira, chief executive officer, Austral Seguradora.
