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:

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.

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