Allianz has finally closed its acquisition of the auto and P&C business from Brazilian insurance company SulAmérica.
A company statement said that the purchase price for the deal is about 3.2 billion Brazilian Real, or nearly US$600 million. The completion of the transaction positions Allianz as the second biggest company in Brazil in terms of auto insurance, and as one of the top three insurers in the country’s P&C market.
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