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Shareholders of the Chilean insurer BICE Vida Compañía de Seguros SA on Oct. 22 approved a proposal that will see the company absorb its BICE Seguros de Vida SA affiliate.
The operation will result in a capital increase of around 104.04 billion Chilean pesos through the issuance of 11,349 new registered payment shares, the company said in a filing.
As of Oct. 23, US$1 was equivalent to 727.18 Chilean pesos.