Sulamérica puts for sale life operations, pension plan and capitalization

The insurance SulAmérica has put on sale its operations of life insurance, pension plan and capitalization. To find interested in these portfolios, has launched an offer to the market with the codename of "Crete", in reference to the largest and most populated island of Greece. The divestments would be occurring for a range search by part of the insurer and focus on core segments such as health insurance, which accounts for more than 70% of your billing, and automobile. In its recent moves in this direction, SulAmérica sold your portfolio of large exposures to the French Axa, and housing insurance to Pan insurance (insurance company of ex-Panamericano), both in 2015. In particular. The target operation Cretan segments have much less importance to the core businesses of insurance and, so, the realization makes sense. The turnover of welfare, for example, was just over half a billion dollars last year, while the life and personal accidents totaled $430 million R. In capitalization, was just over R $50 million. Health totaled almost R $14 billion and automobiles, R $3 billion. Who'd want to? The Crete operation already causes speculation about possible buyers. The list includes Axa, which has always made it clear the your interest in South America and have a preference with the controllers of the insurer, the family Larragoiti; the Icatu; the German Allianz; Bradesco Seguros; and also the safe haven. Sought, SulAmérica reported that "don't comment on market rumors."