NU Online News Service, March 25, 7:28 p.m. – Zurich Financial Services Group, Zurich, and CNA Financial Corp., Chicago, have both announced the sale of operations in Latin America.
? Zurich is selling Zurich Afore S.A. de C.V., its private pension operation in Mexico, to Principal Financial Services Inc., Des Moines, Iowa.
Principal hopes to merge Zurich Afore with its own Mexican pension company, Principal Afore S.A. de C.V., Principal says.
Zurich Afore has about 800,000 private pension customers, and Principal Afore’s business has about 1.4 million customers.