March 21, 2011
Santander and Zurich form alliance
Santander and Zurich have formed an alliance to strengthen insurance in Latin America: Press release
■ The alliance will combine Banco Santander’s commercial strength in the region with Zurich’s experience and leadership in developing and managing insurance products.
■ The bank will distribute the Santander-Zurich alliance’s insurance products in Brazil, Chile, Mexico, Argentina and Uruguay through its network of more than 5,600 branches.
■ Santander will create a holding company for its insurance subsidiaries in the five markets; Zurich will acquire a 51% stake and manage the companies.
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