March 22, 2021 |
The Chilean division of US insurance company Chubb plans to ask shareholders on March 31 for permission to merge life insurance businesses with Banco de Chile (Banchile), according to securities filings on Friday.
If it gets the nod, Chubb will take over Banchile's life insurance business, including debts, and will increase its capital by CLP3.3 billion ($4.6 million), the two companies said in separate filing.
Chubb said in September 2019 that it had agreed to buy the life insurance company. Qu
US insurance company plans to ask for shareholder approval on March 31