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Reprints
Spain-based Banco Sabadell S.A. and Zurich Insurance Co. Ltd. have expanded their insurance joint venture, Reuters reported.
Zurich will contribute €107 million ($146.6 million) in cash, with the transaction valued at an initial €214 million ($293.2 million).
The agreement involves Zurich becoming the lone provider of insurance and pension plans for all of Sabadell's branches.