Liberty Mutual says it has entered the insurance marketplace in Ecuador with the purchases of auto insurers Panamericana de Seguros del Ecuador S.A. and Cervantes S.A. Compania de Seguros y Reaseguros.

Financial terms were not disclosed.

The Boston-based insurer says the acquisitions will make it the fifth-largest non-life insurer in Ecuador. The companies being bought also offer other property and casualty products as well as group life and health insurance.

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