Chubb moves to merge Banchile business

Chubb moves to merge Banchile business

M&A Equity Andean Latin America South America Chile Europe

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

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