Seguros GyT S.A.

completed

Bancassurance has become a strong element in determining competitiveness and success in Guatemala’s insurance sector. Seguros G&T S.A. (“Seguros”) is Guatemala’s largest insurance company in both, the property & casualty as well as life insurance segments with a premium split of 65% and 35%, respectively. However, unlike its main competitors, its cooperation with Banco G&T Continental (“Banco”), its half-sister company, the country’s second largest bank, and an IFC client, has been limited to a few areas of cooperation so far. However, Seguros’ owners and Banco’s owners have realized that a closer cooperation between both entities in distributing insurance products and services through Banco’s branch network would offer substantial synergies, higher turnover for both firms and a better penetration of the Guatemalan insurance market. To assist the parties in unleashing that potential, IFC will invest in Seguros and acquire an equity stake of up to 15%.