Sompo International's wholly owned Brazilian subsidiary, Sompo, has signed an agreement to acquire local peer Fator Seguradora.
The value of the transaction has not been disclosed and the deal remains subject to approval by the relevant regulatory authorities.
According to the translated version of the announcement, the acquisition is part of Sompo's strategy to expand its presence in the corporate insurance market by widening its portfolio of specialised solutions.
The company said the deal will strengthen its position in business lines in which Fator Seguradora has consolidated operations and recognised expertise, particularly property, guarantee and financial lines.
It said completion of the transaction is expected to further reinforce its market position.
#transaction #lines
The value of the transaction has not been disclosed and the deal remains subject to approval by the relevant regulatory authorities.
According to the translated version of the announcement, the acquisition is part of Sompo's strategy to expand its presence in the corporate insurance market by widening its portfolio of specialised solutions.
The company said the deal will strengthen its position in business lines in which Fator Seguradora has consolidated operations and recognised expertise, particularly property, guarantee and financial lines.
It said completion of the transaction is expected to further reinforce its market position.
#transaction #lines
11 days ago
