February 6, 2018 / 10:26 AM / 4 months ago

BRIEF-Mapfre Updates Terms Of Strategic Alliance With Banco Do Brasil‍​

Feb 6 (Reuters) - Mapfre SA:

* SIGNS NON-BINDING MEMORANDUM OF UNDERSTANDING (MOU) TO UPDATE TERMS OF THE STRATEGIC ALLIANCE BETWEEN MAPFRE AND BANCO DO BRASIL‍​

* TO OWN 100 PERCENT (CURRENTLY 50 PERCENT) OF BUSINESS GENERATED BY AGENCY NETWORK, AUTOMOBILE AND LARGE RISKS BUSINESS IN BB BANK CHANNEL

* SAME CURRENT SHAREHOLDER CONFIGURATION FOR LIFE AND AGRICULTURE INSURANCE TO BE MAINTAINED

* TO KEEP EXCLUSIVITY IN BANCO DO BRASIL BANK CHANNEL FOR ALL THE BUSINESSES IN SCOPE OF THE ALLIANCE Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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