Business · Companies · 3 hrs ago
Mutua expects to take full control of Colombian insurer by the end of 2026
Spanish insurer Mutua plans to buy the 55% of Colombia’s Seguros del Estado that it does not already own.
It has held a 45% stake since 2020, and the deal would give it full control of Seguros del Estado and its life insurance business, Seguros de Vida del Estado.
The two companies form one of Colombia’s major private insurance groups and have operated for 70 years.
Mutua expects to complete the purchase before the end of 2026, pending approval from the authorities involved.
Seguros del Estado recorded more than €353 million in insurance premiums last year.
Its contribution to Mutua’s profit was €16.3 million in 2025, out of the group’s total profit of €520.8 million.
The acquisition is part of Mutua’s push to expand in Latin America, where it also has a presence in Chile.
Mutua expects to complete the purchase of the 55% stake it does not own in Colombia’s Seguros del Estado before the end of 2026.
The deal would give the Spanish insurer full control of Seguros del Estado and Seguros de Vida del Estado.
Mutua has owned 45% of the Colombian insurer since 2020 and is awaiting approval from the authorities involved.
Seguros del Estado recorded more than €353 million in premiums last year, according to the report.
The Colombian business contributed €16.3 million to Mutua’s 2025 profit of €520.8 million.
- Who
- Mutua Madrileña and Colombia’s Seguros del Estado and Seguros de Vida del Estado.
- What
- Mutua plans to buy the 55% stake it does not own, taking its ownership to 100%.
- When
- Mutua expects to complete the process before the end of 2026.
- Where
- Colombia.
- Why
- The purchase is part of Mutua’s international expansion and diversification strategy.
This story does not have two clearly opposing sides.
Mutua acquired a 45% stake in the Colombian businesses.
Seguros del Estado recorded more than €353 million in premiums, and the Colombian business contributed €16.3 million to Mutua’s profit.
Mutua expects to complete the purchase of the remaining 55%, subject to approval from the authorities involved.
- Stake to be acquired
- 55%
- Planned ownership
- 100% of Seguros del Estado and Seguros de Vida del Estado
- Current stake
- 45%, held since 2020
- Seguros del Estado premiums
- More than €353 million last year
- Colombian business contribution to Mutua’s 2025 profit
- €16.3 million
What people are saying
We try to go with a local partner, at least initially. We do not want to start alone. And this always complicates plans.
Sources
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