ACE, leader of the corporate insurance in Brazil after acquiring Itau's activities

The company ACE Limited has announced that it will acquire corporate insurance's activities of Itau Seguros S.A. for 685 million USD.

This new acquisition, which will be finalized during the first quarter of 2015, should make the Switzerland-based insurer, the leader of this segment in Brazil.

As a reminder, Itau Seguros S.A. has achieved a turnover of 950 million USD in 2013 and hold 18% of corporate segment's share market.