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International

German insurer Talanx to purchase 70% stake in Chilean insurer

December 22, 2014 Reprints

German insurer Talanx A.G. has agreed to purchase a 70% stake in Chile-based insurer Inversiones Magallanes S.A. for around $220 million, reports Reuters.

This move would help Talanx push itself into developing markets and counter the slow growth in Europe.

With this deal, Talanx would become one of the five biggest insurers in Chile.

The stake purchase is part of the German insurer's strategy to boost growth and diversify risks in its international operations.

Talanx aims to gain 50% of its premium income from businesses outside Germany.

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German insurer Talanx to purchase 70% stake in Chilean insurer

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