Liberty Mutual has emerged as the favourite to acquire BBVA's bancassurance business, but could reportedly face competition from Allianz. Generali is believed to have dropped out of the running. The deal, which is worth in excess of €1bn ($1.1bn), will provide the successful bidder with access to BBVA’s insurance network across Latin America, Spain and Mexico. An agreement is expected to be completed by the end of 2019.
Allianz has emerged as the favourite to acquire BBVA's bancassurance business, but could reportedly face competition from Liberty Mutual. Generali is believed to have dropped out of the running. The deal, which is worth in excess of €1bn ($1.1bn), will provide the successful bidder with access to BBVA’s insurance network across Latin America, Spain and Mexico. An agreement is expected to be completed by the end of 2019.