Talanx sells its Argentinian and Uruguayan subsidiaries to BARBUSS

HDI Seguros S.A. in Argentina and HDI Seguros S.A. in Uruguay sold to BARBUSS
Focus on profitable growth in selected large markets in line with the Group's strategy

The Retail International division of the Talanx Group sells its Argentinian and Uruguayan entities to BARBUSS, a global holding company that provides a wide range of insurance, claims management and financing solutions.

The sale marks another important step in the implementation of the Retail International division’s strategy to build a strong presence and to generate profitable growth in Latin America. In line with the Group's strategy, the division is focusing on larger markets and strong market positions. In February 2025, the Group had already divested its small-scale operation in Ecuador.

HDI Seguros Argentina and HDI Seguros Uruguay have been part of HDI International AG since 2011. The Argentinian operation generated a gross premium volume of ARS 87,708m (EUR 86m) with 148 employees in 2024, and the Uruguayan entity recorded a gross premium volume of UYU 1,628m (EUR 36m) and employed 46 people.

Both entities are now owned by BARBUSS S.A., excluding a remaining portion of 10 per cent of HDI Seguros Uruguay, which is still owned by Talanx and is subject to regulatory proceedings. This part of the transaction is expected to close in 2025.

The parties have agreed not to disclose the financial terms of the transaction.

Premium volume of HDI Seguros Argentina is for the reporting year July 2023 to June 2024, and is adjusted for inflation in line with local practice (using the CPI index). The resulting ARS number has been converted into EUR with the exchange rate of 28 June 2024 (ARS/EUR 1,024).

The exchange rate used to convert the premium volume of HDI Seguros Uruguay is from 31 December 2024 URU/EUR: 45.6

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.