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International

Regulator approves Zurich Insurance's acquisition in Brazil

July 03, 2018 Reprints

Brazil's insurance regulator has approved Zurich Insurance Group A.G.'s acquisition of Australia-based QBE Insurance Group Ltd.'s operations in Brazil, Panrotas reported. Zurich Insurance is acquiring QBE's operations in Brazil, Argentina, Colombia, Ecuador and Mexico for $409 million. Edson Franco, chief executive of Zurich Brasil Seguros S.A., said that the acquisition will increase the insurer's scale and distribution channels in the region.

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Regulator approves Zurich Insurance's acquisition in Brazil

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