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FID Peru completes 51% acquisition of La Positiva Seguros

FID Peru SA has completed its acquisition of a majority stake in La Positiva Seguros y Reaseguros SA, the latter company said in a Jan. 4 filing.

FID Peru purchased 194,224,590 shares of La Positiva, accounting for 51% of the company's share capital.

In March 2018, a shareholder group holding a 59.50% stake in La Positiva had announced it would sell shares to FID Peru's parent company, Portugal-based Fidelidade - Companhia de Seguros SA.

La Positiva Seguros is Peru's fourth-largest insurance group with a market share of 11% and consolidated premiums of more than $500.0 million.