Liberty International Holdings has acquired Penta Security
Liberty International Holdings Inc., a member of Liberty Mutual Insurance Group, has acquired Compañia de Seguros Generales Penta Security S.A. (Penta Security) for US$150 million.
Liberty International provides personal and commercial insurance services. Its products include casualty, specialty casualty, marine, energy, engineering, and reinsurance. The company sells its products through broker networks. Liberty International was founded in 1994 and is based in Boston, Massachusetts, with additional offices in Asia, Australia, Europe, and North America. Penta Securiy offers a solid opportunity for Liberty International to continue its expansion and growth in Chile’s US$3 billion non-life insurance market.
Penta Security, the fourth largest non-life insurance company in Chile, offers a diversified portfolio, including personal and commercial insurance.
Oaklins' team in Chile advised the buyer in this transaction and structured a Public Tender Offer.
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