Allianz Buys out SulAmérica’s Automobile Insurance Segment for R$3 billion

With this transaction, SulAmérica will focus its business on health, dentistry, life, and pension insurance.

RIO DE JANEIRO, BRAZIL - SulAmérica announced on Friday, August 23rd, that it sold its automobile and basic insurance branches to German insurance giant Allianz, for R$3 billion (US$750 million), to focus its business in the health, dentistry, life, and pension insurance.

As for Allianz, it will become one of the three leading insurers in Brazil and will take the second position in the auto insurance market, increasing its . . .

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