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Zurich: to acquire QBE unit to expand in Latin America

(CercleFinance.com) - Zurich Insurance Group has agreed to buy the operations of Australian insurer QBE in Latin America for 409 million dollars, so as to expand its presence in the region.

The transaction will make Zurich the leading insurer in Argentina, also muscling up its capacities in Brazil, Colombia and Mexico, making the group the number three insurer in Ecuador, the Swiss insurer said.

The acquisition is expected to be completed by the end of 2018.

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