Liberty Mutual Insurance Targets Brazilian Surety Market Growth With Acquisition of Austral Seguradora

BOSTON (October 14, 2026) - Liberty Mutual Insurance today announced an agreement to acquire Austral Seguradora, a top-five Brazilian surety provider headquartered in Rio de Janeiro. The deal is subject to regulatory approval. Terms of the transaction were not disclosed.

Austral, a member of the Austral Holding Group, has served the Brazilian market since 2010. The acquisition includes Austral's surety, financial lines, and casualty business. Under the agreement, Liberty Mutual will retain Austral's portfolio without business or broker disruption, and its approximately 100 employees will join Liberty when the deal closes. Upon completion of the transaction, Liberty Mutual will be one of the largest surety providers in Brazil.

"Acquiring Austral underscores our commitment to be one of the leading guarantee providers in Brazil," said Nate Zangerle, Liberty Mutual president, Global Surety. "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."

"Brazil is one of the most important insurance markets in Latin America, and this acquisition reflects Liberty's long-term commitment to the region," said Manuel Moreno, Liberty Mutual president and chief underwriting officer, LatAm & US, Liberty Specialty Markets. "Bringing together Austral's market expertise with Liberty's global strength positions us to grow, deepen our relationships with brokers and clients, and deliver even greater value across Brazil and the wider region."

"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," said Carlos Frederico Ferreira, chief executive officer, Austral Seguradora.

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About Liberty Mutual Insurance

At Liberty Mutual, we believe progress happens when people feel secure. For more than 110 years we have helped people and businesses embrace today and confidently pursue tomorrow by providing protection for the unexpected and delivering it with care.

AFortune 100 company with more than 40,000 employees in 27 countries and economies, we are the ninth largest global property and casualty insurer and generate more than $50 billion in annual consolidated revenue.

We operate through three strategic business units: US Retail Markets, providing auto, home, renters and other personal and small commercial lines property and casualty insurance to individuals and small businesses countrywide; Global Risk Solutions, delivering a full range of comprehensive commercial and specialty insurance, reinsurance and surety solutions to mid-size and large businesses worldwide; and Liberty Mutual Investments, deploying more than $100 billion of capital globally to build enduring businesses, drive economic growth, and secure Liberty Mutual's promises.

For more information, visit www.libertymutualinsurance.com.

Contact: Liberty Mutual Insurance Public & Media Relations

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About Austral Seguradora

Founded in 2010, Austral Seguradora is a Brazilian insurance company specializing in surety, financial lines and casualty insurance. Combining deep knowledge of the local market with agility, operational efficiency and innovation, Austral works side by side with clients and brokers to deliver tailored, high-quality solutions. It is recognized as a top-five surety provider in Brazil.

For more information, visit www.australseguradora.com/en.