Talanx, an insurance group, completed the acquisition of the Latin America business of Liberty Mutual, an insurance company, for $ 1.48bn. "The acquisition is a major milestone in our strategic success story in Latin America. We are delighted to have advanced into the top 2 P&C insurers as a result of all Liberty acquisitions. I'd like to extend a warm welcome to our new colleagues, distribution partners and customers in Chile, Colombia and Ecuador. I have no doubt that we shall combine our know-how and global resources with the skills and experience of Liberty Seguros and thereby enhance our power of scale, innovation and competitiveness for the benefit of our distribution partners and customers on the Latin American market," Wilm Langenbach, Talanx Member of Board.