Chile's Sura Seguros De Rentas Vitalicias SA on May 23 named Juan Eduardo Correa Garcia as chairman of the board, according to a regulatory filing.

The executive was also named as the chairman of the company's life insurance unit BICE Vida Compañía de Seguros SA.

Colombian insurance giant Grupo de Inversiones Suramericana SA recently sold its annuity business in Chile, Sura Seguros De Rentas Vitalicias, to BICECORP SA. Regulators greenlighted the deal in March.