The logo of Spain's insurance company Mapfre is seen in Seville, southern Spain March 14, 2016. REUTERS/Marcelo del Pozo
SAO PAULO (Reuters) - Brazilian insurance company BB Seguridade SA (BBSE3.SA) said its board has approved a new agreement with Spain’s Mapfre SA (MAP.MC) that may free up 1.8 billion reais ($478.2 million) worth of capital.
Under the terms of the agreement, BB Seguridade will sell its property and vehicle insurance unit, known as SH2, to Mapfre.
Reporting by Aluisio Alves; Writing by Carolina Mandl
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