M&A Deal Summary

Chubb Acquires Rio Guayas Compania de Seguros y Reaseguros

On December 28, 2011, Chubb acquired insurance company Rio Guayas Compania de Seguros y Reaseguros from Banco de Guayaquil SA for 55M USD

Acquisition Highlights
  • This is Chubb’s 7th transaction in the Insurance sector.
  • This is Chubb’s 10th largest (disclosed) transaction.
  • This is Chubb’s 1st transaction in Ecuador.

M&A Deal Summary

Date 2011-12-28
Target Rio Guayas Compania de Seguros y Reaseguros
Sector Insurance
Buyer(s) Chubb
Sellers(s) Banco de Guayaquil SA
Deal Type Divestiture
Deal Value 55M USD

Target

Rio Guayas Compania de Seguros y Reaseguros

Matriz, Ecuador
Rio Guayas sells a range of insurance products, including motor, property, life, cargo, accident and health, casualty, marine and aviation, primarily through independent brokers and agencies and Banco de Guayaquil’s branches.

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Buyer(S) 1

Buyer

Chubb

Zurich, Switzerland

Category Company
Founded 1985
Sector Insurance
Employees43,000
Revenue 56.2B USD (2024)
DESCRIPTION
Chubb's corporate headquarters in Zurich, Switzerland.
Chubb's corporate headquarters in Zurich, Switzerland.

Chubb is a property and casualty insurer that offers a broad range of personal and commercial insurance products. Chubb was founded in 1985 and is based in Zurich, Switzerland.


DEAL STATS #
Overall 7 of 17
Sector: Insurance M&A 7 of 15
Type: Divestiture M&A Deals 3 of 10
Country: Ecuador M&A 1 of 1
Year: 2011 M&A 2 of 2
Size (of disclosed) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-08 ACE Agribusiness

Wilkes-Barre, Pennsylvania, United States

ACE Agribusiness focused on property and casualty offerings that provide large commercial agricultural coverages (for manufacturers, processors and distributors) and farm and ranch property risk coverages. Company believe in delivering a focused approach to the rural marketplace and will continue to expand in this segment as company offer additional products to our agents and insureds.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-13 PT Asuransi Jaya Proteksi

Jakarta,, Indonesia

PT Asuransi Jaya Proteksi, engages in personal lines, offering property, motor, accident and health insurance as well as commercial insurance coverages such as marine cargo and liability insurance.

Buy $130M

Seller(S) 1

SELLER

Banco de Guayaquil SA

Guayaqui, Ecuador

Category Company
Founded 2010
Sector Financial Services
Employees1,280
DESCRIPTION

Banco de Guayaquil SA provides banking services.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Ecuador M&A 1 of 1
Year: 2011 M&A 1 of 1
Size (of disclosed) 1 of 1