Panama’s ASSA Increases Nicaragua Stake

Panamanian insurer ASSA Compañía de Seguros, owned by Grupo ASSA, has agreed to increase its stake in Nicaragua’s Banco de Finanzas, which operates in Nicaragua and Panama, from 21% to 55.2%. It will also acquire 62.8% of insurer Metropolitana Compañía de Seguros. No financial details of the transaction were revealed.