GrupoSura's purchase of ING creates a new Latin American insurance giant.
BY LBC STAFF
Colombia’s GrupoSura’s $3.7 billion purchase of the Latin American insurance business of Dutch financial giant ING, assures it a place among the top insurers in the region.
ING ranks fifth on the latest ranking of Latin America’s Top 100 Insurers developed by Latinoinsurance for Latin Business Chronicle.
ING last year reached Latin American premiums of $4.98 billion, a 25.1 percent increase from 2009. That increase moved it up a spot from the previous year, when it ranked sixth in the region.
GrupoSura has stakes in Colombia’s top insurer Suramericana and bank, Bancolombia. Suramericana ranks 18 on the list of Latin America’s top 100 insurers, with premiums of $2 billion last year.
If the premiums of ING in Latin America and GrupoSura were combined, they would make it the fourth-largest insurer, with combined premiums of almost $7 billion.
The ING deal would be...
Keywords: GrupoSura, Horizonte, ING, Mapfre, Porto, Principal, Vida Camara (Chile), Santander, Segura Inbursa
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