Mexico: COFECE approves purchase of insurer SURA

Mexico’s Federal Commission of Economic Competition (COFECE) unanimously authorized the purchase and sale process notified by the subsidiaries Suramericana SA and Sura Asset Management SA, in which the former acquires all of the shares of the insurer Seguros de Vida Sura Mexico SA de CV.

COFECE’s approval represents progress towards obtaining the required permits to carry out the transaction, with only the approval by the Governing Board of the National Insurance and Bonding Commission of the country still pending.

Sura (Grupo de Inversiones Suramericana) reported that it had already received the preliminary authorization for the transaction to be carried out between two of its subsidiaries, in response to the optimization and specialization of Grupo Sura’s portfolio.

In its statement, the Group explained that the life insurance business was inherited from the purchase of assets from European company ING in the region.

Full Content: Valora Analitik

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