[:es][vc_row][vc_column][vc_column_text responsive_text=»true» font_size=»18″ font_weight=»bold»]El grupo de seguros suizo adquirió las operaciones de la firma australiana en Argentina, Brasil, Colombia, México y Ecuador por una suma de $409 millones de dólares, para consolidar su liderazgo en la región.
[/vc_column_text][/vc_column][/vc_row][:en][vc_row][vc_column][vc_column_text responsive_text=»true» font_size=»18″ font_weight=»bold»]The Swiss insurance group acquired the australian firm’s operations in Argentina, Brasil, Colombia, Mexico and Ecuador, in exchange for $409 million dollars, to consolidate its leadeship in the region.
The Swiss insurance company Zurich Insurance Group signed an agreement with QBE Insurance Group Limited to acquire the later’s operations in Latin America. The contract establishes a transaction valued in $409 million dollars and it still awaits regulatory approval from Argentina, Brasil, Colombia, Mexico and Ecuador.
“This operation gives us a leadership position in Argentina, a market that shows solid growth, a stable economy and a positive ecosystem for insurance. It deepens our local corporate business capacity and stands on our strategy to become the preferred insurance company in the minority segment of the region, protecting our clients and helping them achieve their highest potential«otencial”, indicated Claudia Dill, Chief Executive Officer in Zurich for Latin America. “We welcome our new clients, distributors and new collegues to Zurich”, she continued.
The acquired assets from the five countries mentioned combine primes emitted for aproximately $790 million dollars in 2017, with a product catalogue highly diversified and a solid distribution. Zurich expects to achieve an efficiency of investments that overcome the critical index of rentability by 10% with the first year after closing the transaction with QBE. The purchase is expected to be completed by the end of 2018.
The movements of the company in Argentina represent almost 50% of the entire actives acquired. This will duplicate the Zurich’s earnings in the territory, with a P&C (Property and Casualty) market share of 8,4%.. Besides from incrementing its existing activities in Brasil, Colombia and Mexico, the group will be the third leader in Ecuador.