LIMA Nov 8 Colombian finance giant GrupoSura
said on Thursday that Peru's banking regulator gave it the green
light to buy up 63 percent of shares in a local insurance
company, part of its strategy to aggressively expand across
GrupoSura, which manages more than $12 billion in assets,
has not disclosed the total value of the transaction, but
estimates put it below 1.5 percent of its total assets.
GrupoSura is the investment arm of Colombia's largest
industrial conglomerate, Grupo GEA (GEA), and its new
acquisition - InVita, owned by Peru's Grupo Wiese - has some 1.3
million customers and managed assets worth $1.04 billion.
The purchase also includes the subsidiary InCasa, a firm
that provides and manages mortgage loans in Peru.
GrupoSura bought $3.5 billion of the Dutch firm ING's Latin
America assets last year.
GrupoSura does business in El Salvador, the Dominican
Republic, Panama, Chile, Mexico, Peru and Uruguay.
(Reporting By Teresa Cespedes)