Insurance Company Assets Ceded in Panama

The process of forced liquidation of the Venezuelan company Seguros Constitución has now ended, with the assignment of the life insurance portfolio to Acerta Seguros, for an insured sum of $43 million.

Friday, September 1, 2017

The Insurance Settlement Board, appointed in late October 2015 to carry out the compulsory liquidation of the insurer, reported that in addition to the assignment of the life insurance portfolio, five real estate properties were sold for a total of $1.3 million.

A statement said that "...The Liquidation Board did not sell the principal asset (which was part of the minimum assets required by Law 12 on insurance) consisting of the premises no 5 at PH Plaza Paitilla, which is the headquarters of Seguros Constitución in Ave. Balboa whose assessment in September 2015 reflected the sum of $3,400,000."

See full statement (in spanish).

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