Financial Services Industry
Industry: Email Alert RSS FeedAetna stake gives it entree into Brazil's life ins. market.(insurance,)
National Underwriter Life & Health-Financial Services Edition, February, 1997 by Schmitt, Frederick
Aetna will form a joint venture with Sul America Seguras, the largest life insurance company in Brazil. Aetna will invest $300 million to form Sul America Aetna while Sul America Seguras will contribute its health and life insurance businesses. The joint venture will begin during 2nd qtr 1997 and focus on life insurance, health insurance and pension plans.
Aetna Inc. has to put up a minimum of $300 million to form a joint venture with Brazil's largest life insurer.
The multi-line Sul America Seguros, based in Sao Paulo, currently has about 8.5 million customers cultivated by a distribution force of more than 14,000 brokers.
Reported premiums for its life and health insurance business were more than U.S.$1.2 billion last year. Overall premiums were...
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