Dutch financial service giant ING continues to shed assets, agreeing to sell its Latin American insurance unit to Colombian financial holding company Grupo de Inversiones Suramericana (Grupo Sura) for $3.9 billion, including debt.
Grupo Sura will acquire ING’s pensions, life insurance and investment management operations in Chile, Colombia, Mexico, Uruguay and Peru. Combined, these businesses serve over 10 million clients and manage $70 billion in assets.
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