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Grupo Mundial to Buy 90% Stake
In Costa Rican Insurance Broker
Panamanian financial group Grupo
Mundial Tenedora has reached an
agreement to acquire a 90% stake
in Costa Rican insurance broker
Círculo de Protección Total for
an undisclosed sum, Mundial said
in a filing with Panama's
securities regulator.
Early this month, Mundial
reached an agreement to acquire
Guatemalan insurer Seguros
Alianza, which ranks 16th out of
18 insurance companies.
Last month, Grupo Mundial signed
an agreement to acquire a 73%
stake in Honduras' fourth
largest insurer Aseguradora
Hondureña.
On September 29, Mundial agreed
to buy 51% stake in Colombian
consumer finance company Giros &
Finanzas.
Trinidad & Tobago-based
financial services group
Guardian Holdings (GHL) holds a
20% stake in Grupo Mundial
Tenedora, which includes
insurance company Aseguradora
Mundial and mortgage bank Banco
Panameño de la Vivienda (Banvivienda),
among other interests.
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