Grupo Financiero Ficohsa SA has received approval from regulators in Panama and Guatemala to purchase Guatemala-based Seguros Alianza SA through Honduran unit Ficohsa Seguros, Estrategia y Negocios reported, citing group President Camilo Atala.

Ficohsa Seguros' operations in Guatemala will be led by Banco Ficohsa (Guatemala) SA's executive president, Enrique Rodríguez.

Following the acquisition, the group has about $4.46 billion in assets, $553.8 million in equity and 6,000 employees, which consolidates its position among the 10 largest financial groups in Central America, the Jan. 18 publication noted.