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RSA completes sale of Colombian operations to Suramericana

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RSA completes sale of Colombian operations to Suramericana

RSA InsuranceGroup Plc said April 1 that it completed the sale of its operationsin Colombia to Grupo deInversiones Suramericana SA unit Suramericana SA.

RSA reached its agreement to sell its operations in Latin America toSuramericana for about £403 million in September 2015. The U.K.-based companyhas already closedthe sale of its Brazilian business and expects to complete the remainingdisposals — in Chile, Argentina, Mexico and Uruguay — over the next sixmonths.    

Grupo Sura said in a statement that it plans to merge theacquired Colombian operations with unit Seguros Generales Suramericana SA within six months.

Once all of the sales are finalized, Suramericana will havea base of about 15.7 million customers in Colombia, Chile, Mexico, Argentina,Brazil, Uruguay, Panama, El Salvador and the Dominican Republic, Grupo Suranoted.