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Source: Reuters | Published on August 23, 2019
Brazilian insurer Sul America SA has sold its auto unit and other parts of its business to Germany’s Allianz SE for 3 billion reais ($734 million), it said in a filing on Friday.
Last month, Sul America said Allianz had made a non-binding offer for its property and casualty (P&C) and auto units, and that if an agreement was reached, Sul America’s operations would be concentrated in health, dental, life and pension insurance and asset management products.
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