US-based Liberty Mutual Insurance has agreed to acquire Brazilian surety insurance provider Austral Seguradora.
The takeover encompasses Austral’s casualty, financial lines and surety businesses.
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Headquartered in Rio de Janeiro as a part of Austral Holding Group, Austral Seguradora has been active in the Brazilian market since 2010.
Approximately 100 of its employees are expected to transition to Liberty Mutual after the transaction is completed.
Liberty Mutual stated that it will maintain Austral’s current portfolio without causing disruption to its commercial activities or relationships with brokers.
Austral Seguradora CEO Carlos Frederico Ferreira added: “From the day we founded Austral, our goal was to build a specialty insurer defined by agility and innovation, always standing by our brokers and clients.
“Joining Liberty Mutual is a recognition of what our team has built and opens an exciting new chapter. Liberty’s global scale and its surety and specialty expertise provide an outstanding platform for continued growth, while preserving the service and relationships the market expects.”
The financial details of the agreement were not disclosed and the transaction remains subject to obtaining regulatory clearance.
Following the conclusion of the deal, Liberty Mutual projects that it will become one of the “largest” surety underwriters in Brazil.
The US-based insurer conducts its operations via three business units: US Retail Markets, Global Risk Solutions and Liberty Mutual Investments.
Liberty Mutual Global Surety president Nate Zangerle said: “Austral brings an experienced local team with top industry talent, strong broker and agent relationships, and technology-enabled underwriting and servicing capabilities. Its disciplined risk approach and market reputation align closely with Liberty’s global standards.”
In its latest financial disclosure, parent entity the Liberty Mutual Holding Company (LMHC) and its subsidiaries posted net income attributable to LMHC of $2.63bn for the second quarter ended 30 June 2026, compared with $1.84bn in the same period of 2025.
