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Report: Spain's Caser absorbs Banco CEISS' nonlife insurance unit

Barcelona-based Caja de Seguros Reunidos, Compañía de Seguros y Reaseguros SA, or Caser, absorbed Unión del Duero Seguros Generales, the nonlife insurance division of Banco de Caja España de Inversiones, Salamanca y Soria SA, Spanish news agency EFE reported May 28.

Unión del Duero will cease to exist through a dissolution without liquidation following the transfer of all its rights and obligations to Caser, according to the report.

Banco CEISS, which is now also known as España Duero, is a unit of Unicaja Banco SA.