Ace Ltd has agreed to purchase Mexican personal lines insurer
ABA Seguros from Ally Financial for approximately $865mn in cash.
This follows hot on the heels of Ace's $285mn acquisition of Fianzas Monterrey, the second largest surety underwriter in Mexico, announced last month.
Ace chairman and CEO Evan Greenberg said the acquisitions meant Ace was extremely well positioned to take advantage of the many growth opportunities it believed were available in Mexico.
ABA Seguros is the sixth largest P&C insurer...
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