Mapfre to buy Ecuadorian insurer
Spanish and Latin American (re)insurer MAPFRE has reached an agreement to acquire 60% of the share capital of Atlas, the 10th largest insurer in Ecuador.
The €3.8m ($6m) acquisition is subject to the relevant regulatory authorisations. Atlas, a multi-line insurer founded in 1984, achieved gross written premiums in 2007 of €14.2m ($22m)
Mapfre said that
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