Grupo Sura Buys Panamanian Insurer

The Colombian company signed an agreement to acquire the shares of Insurance Banistmo, whose participation in the Panamanian market is 8%.

Tuesday, February 24, 2015

From a statement issued by Grupo Sura:

Suramericana
SA, a subsidiary of SURA Group which specializes in the industry for insurance, health and occupational hazards, signed a contract for the acquisition of Insurance Banistmo, which, once the relevant authorizations have been obtained, will allow the Company to consolidate its presence in the Central American market, adding this operation to Seguros SURA Panama.

The value of this acquisition will be published at the close of the transaction, as this is calculated based on the assets registered by the Company at the time and according to regulatory approval. The operation was based on the standards of corporate governance of the stakeholders and received technical support and external consulting from the firm Towers Watson.



More on this topic

Insurance: Multinational Acquires Central American Company

December 2019

Grupo Unity, a regional insurance broker in Central America, will be acquired by Willis Towers Watson, a company specializing in risk management and insurance brokerage.

According to a press release from Willis Towers Watson, the objective of the transaction "...is to increase the reach, scale and talent of Willis Towers Watson in the Latin American region, both for the Corporate Risk and Brokerage (CRB) segment, and for Human Capital and Benefits (HCB)."

Panama: Banvivienda with New Owner

September 2018

It has been announced that Global Bank Corporation will sign an agreement to acquire 99.97% of the shares of Banco Panameño de la Vivienda, for an estimated price of $245 million.

With the acquisition of Banvivienda, Global Bank will incorporate more than 39 thousand customers, 11 branches, which will be added to the 165,000 customers and 35 branches that the bank currently has.

El Salvador: Insurance Company Has New Owners

April 2018

The Superintendence of Competition has authorized the purchase of Davivienda Vida Seguros by the Honduran company Inversiones Atlántida.

A statement issued by the Superintendence of Competition (SC) indicates that the purchase of the insurer Davivienda Vida Seguros, S.A., Seguros de Personas (Davivienda Vida), was made through the Salvadoran subsidiary of Grupo Atlántida, Inversiones Financieras Atlántida, S.A.

Sale of Electricity Shares in Panama

April 2013

On April 19 the prequalification process will be held for companies interested in buying 51% of the shares of the electricity distribution companies in Panama.

"In the tender separate proposals may be submitted for the purchase of 51% shares of Metro Oeste, S.A. (Edemet), Elektra Noreste, S.A. (Ensa) and Empresa de Distribución Eléctrica Chiriquí, S.A.", reported Prensa.com.

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