Allianz concludes purchase of SulAmérica operations for $ 615 mm

Allianz announced the conclusion of the acquisition of SulAmerica’s car insurance operations and essential branches for R$ 3.2 billion ($ 615 mm). According to the German company, after the acquisition it becomes the second largest car insurance company. With the merger, Allianz projects a total turnover of R$ 7 billion ($ 1.3 bn) in 2020, compared to R$ 3.3 billion ($ 634 mm) last year.

Source: Folha