ABA Seguros company logo

The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

abaseguros.com

Stage

Acquired | Acquired

Valuation

$0000 

About ABA Seguros

ABA Seguros is a Mexico-based property and casualty (P&C) insurer and provides auto, homeowners and small business coverages. Based in Monterrey, the company has sales offices throughout Mexico and distributes its products through a network of independent agents as well as through auto dealerships, banks and direct channels.In May 2013, ABA Seguros was acquired by ACE Limited from Ally Financial. The valuation of ABA Seguros was $690 million. Other terms of the deal were not released.

ABA Seguros Headquarter Location

Mexico

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest ABA Seguros News

ACE Acquires Personal Lines Insurer ABA Seguros in Mexico

May 3, 2013

ACE Acquires Personal Lines Insurer ABA Seguros in Mexico May 02, 2013 04:05 PM Eastern Daylight Time ZURICH--( BUSINESS WIRE )--ACE Limited (NYSE: ACE) announced today that it has completed the acquisition of Mexican personal lines insurer ABA Seguros from Ally Financial Inc. for approximately $690 million in cash, after a $175 million pre-closing dividend taken by the seller. With more than 50 years of experience in the Mexican market, ABA Seguros is the country’s fourth-largest personal lines insurer, providing auto, homeowners and small business coverages. The Monterrey-based company has over 30 sales offices throughout Mexico and distributes its products through a network of more than 2,000 independent agents as well as through auto dealerships, banks and direct channels. “ABA Seguros is a well-established, well-recognized, agency-based insurer with a solid service reputation and impressive creativity that can be leveraged across Mexico and the Latin American region,” said Evan Greenberg, Chairman and Chief Executive Officer, ACE Limited. “With ABA, combined with our existing ACE Seguros businesses and our new ACE Fianzas Monterrey business, we are extremely well positioned to take advantage of the many growth opportunities we believe will occur in this important country over the next decade and beyond.” The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com . Cautionary Statement Regarding Forward-Looking Statements: All forward-looking statements made in this press release, related to the acquisition of ABA Seguros or otherwise, reflect ACE’s current views with respect to future events, business transactions and business performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, ACE’s forward-looking statements related to future business operations of ABA Seguros could prove incorrect if ABA Seguros and its subsidiaries were to perform differently than currently expected by ACE or if anticipated expense-related efficiencies were not realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts

  • What is ABA Seguros's latest funding round?

    ABA Seguros's latest funding round is Acquired.

  • Who are the investors of ABA Seguros?

    Investors of ABA Seguros include Ace Limited.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.