NU Online News Service, Feb. 22, 12:54 p.m. EST
Zurich Financial Services Group expanded its insurance operations in Latin America and moved up a notch on the property and casualty scale as it announced a 25 year distribution agreement with Banco Santander SA.
The Zurich, Switzerland-based insurer said it has signed a memorandum of understanding with the Madrid, Spain-based bank Santander to acquire 51 percent of the bank’s insurance business in Latin America. Santander keeps the remaining 49 percent.
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