
Washington, D.C., January XX, 2012—IFC, a member of the World Bank Group, and the IFC African, Latin America and Caribbean Fund announced their support to Grupo SURA’s expansion strategy in Latin America by investing in Grupo de Inversiones Suramericana España S.L to help stimulate savings and pension management in low- to middle- income households and strengthen the region’s pension and insurance sector.
The equity investment in the newly created company--which acquired ING’s regional platform of pension fund management and insurance companies in Chile, México, Peru, Colombia, and Uruguay-- includes $125 million from IFC and $75 million from the IFC ALAC Fund, which is managed by IFC Asset Management Company.
With this acquisition, Grupo SURA will become th...