Zurich, Manulife International Operations on the Rise

Posted on Oct 07, 2011 by Sergio Ulloa (G+)

Multinational insurance companies have found themselves in an acquisitive mood in the past month as firms look to tap into emerging markets to offset the limited growth prospects in their home countries. On Wednesday, Zurich Financial Services Group, Switzerland's biggest insurer, expanded its presence in the promising South America market with the acquisition of a 51 percent stake in the life insurance, general insurance and pension operations of Banco Santander in Brazil and Argentina. The deal comes as part of a long-term distribution arrangement between Zurich and the Spanish banking giant in Latin America, which was agreed to earlier this year. Read the rest of the Zurich, Manulife International Operations on the Rise article.