Mapfre, SA (ES:MAP) has released an update.
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Mapfre, a prominent player in the insurance market, is set to expand its foothold in Mexico by acquiring a 94% stake in Proyecto Insignia, the parent company of Insignia Life. The deal, valued at over 85 million euros initially, includes a performance-based additional payment contingent on Insignia Life’s success over the next three years. This strategic move positions Mapfre to strengthen its presence in the Mexican life insurance sector, pending regulatory approval.
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