Brazil's Itaú sees $497 mln earnings boost from ACE deal

SAO PAULO, July 4 Fri Jul 4, 2014 9:16am EDT

SAO PAULO, July 4 (Reuters) - Itaú Unibanco Holding SA , Brazil's largest non-government bank, expects an earnings boost of 1.1 billion reais ($497 million) from the sale of its high-risk corporate insurance portfolio to global insurance company ACE Ltd, according to a Friday securities filing.

($1 = 2.2132 Brazilian reais) (Reporting by Asher Levine; Editing by Bernard Orr)

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