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Corporate news

9 May 2026

20-year exclusive bancassurance agreement between HDI Seguros Mexico and Afirme Grupo Financiero
HDI reaches pro forma rank 6 in the Mexican property and casualty insurance market through acquisition of Afirme Seguros

Talanx has signed a long-term strategic partnership agreement with Afirme Grupo Financiero in Mexico, centred on an exclusive 20-year bancassurance agreement for the sale of non-life and life products. Combined with the acquisition of 100% of the shares of the Group’s insurer Afirme Seguros, the transaction will strengthen HDI Seguros Mexico’s competitive position. The subsidiary of HDI International AG will pro forma reach rank 6 in the property and casualty market and rank 5 in motor insurance.

The partnership with Afirme Grupo Financiero will help Talanx to realise its strategic objectives by growing in motor, non-motor and life protection business.

“This partnership is an important milestone in the implementation of our strategy bringing us closer to our goal of becoming a Top 5 player in the Mexican property and casualty market,” says Dr Wilm Langenbach, Member of the Board of Management of Talanx AG with responsibility for the Retail International division and Chief Executive Officer of HDI International AG. “The partnership with Afirme is aiming to leverage the excellent footprint, distribution reach and brand of Afirme and to provide excellent products and services combining the capabilities of Afirme Seguros and HDI Seguros in Mexico. We are very much looking forward to work together and to combine the capabilities of our Afirme and HDI colleagues in this long-term strategic alliance.”

“This alliance marks the beginning of a new phase of expansion and consolidation for two great institutions that have come together to offer a more competitive value proposition for the market. Our Afirme brand, our distribution and close relationship with customers, combined with the capabilities of an international company will create a strong offer for the Mexican market,” says Jesús Ramírez, Chief Executive Officer of Afirme Grupo Financiero.

Nicolas Masjuan, Member of the Board of Management of HDI International AG responsible for Latin America, adds: “Mexico is an important growth market for HDI International. This long-term partnership strengthens our market position in Mexico, expands our distribution mix and supports further diversification. Moreover, this deal solidifies our position as the Top 2 P&C insurer in Latin America.”

The parties have agreed not to disclose the financial terms of the transaction. The transaction is subject to customary regulatory approvals and closing conditions. Closing is expected in the first half of 2027.

HDI International AG has been represented in the Mexican market by HDI Seguros Mexico since 2009. HDI Seguros Mexico offers insurance services through around 1,800 employees, 55 regional offices and over 10,500 insurance brokers and agents. In 2025, HDI Seguros Mexico’s gross premium volume amounted to MXN 14,898 million (EUR 704 million).

Afirme Seguros generated a gross premium volume of MXN 7,859 million (EUR 372 million) in 2025 with around 960 employees. The company distributes motor, non-motor and life insurance products via a regional broker and agent network as well as the bank distribution channel of Banca Afirme.

Footnote

FX rate used to translate the gross premium volume is as of 31 December 2025: EUR/MXN = 21.14

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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.