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Report: Sura to complete acquisition of RSA's Mexican operations in May

unit Suramericana SA ison track to complete its acquisition of RSAInsurance Group Plc's Mexican insurer, RSA Seguros, in May, Dinero en Imagen reported April 12, citingan interview with RSA Seguros CEO Francisco Oliveros.

Suraexpects to receive authorization from Mexican insurance regulator CNSF by the endof April and will start operations of the new company next month, Oliveros was quotedas saying.

The newcompany will maintain RSA Seguros' current business focus, but the deal should bringbenefits for its operation in terms of investment in technology and infrastructure,Oliveros added.

As aresult, the company should maintain double-digit sales growth, after posting a 13%rise in premiums in 2015, he noted.

RSA reachedits agreement to sell its operations in Latin America to Suramericana in September2015. The U.K.-based company has already closed the sale of its Brazilian and businesses and expectsto complete the remaining disposals — in Chile, Argentina, Mexico and Uruguay —over the next six months.