Regulator approves acquisition of RSA Insurance subsidiary
Posted On: Jun. 3, 2016 12:00 AM CSTColombia-based insurer Grupo de Inversiones Suramericana S.A. has received approval from Mexico's insurance and surety bond regulator to acquire the Mexican subsidiary of U.K.-based RSA Insurance Group P.L.C., BNamericas reported.
Suramericana agreed to buy all of RSA Insurance's Latin American subsidiaries for £403 million ($581 million) in September 2015. In Latin America, RSA Insurance has subsidiaries in Uruguay, Mexico, Chile, Brazil and Argentina.