IFS announces an agreement to acquire the insurance and mortgage businesses of Sura in Peru

Lima, Peru – May 31, 2017 — Intercorp Financial Services Inc. (“IFS”, BVL:IFS) today announced that IFS’ Board of Directors has approved the signing of a Share Purchase Agreement with companies Sura Asset Management S.A. (Colombia) and Sura Asset Management Perú S.A. (Peru) and Grupo Wiese (Peru), for the direct and indirect acquisition of up to 100% of shares of Seguros Sura S.A. and Hipotecaria Sura Empresa Administradora Hipotecaria S.A. (the “Transaction”).

The businesses that will be incorporated into IFS under the Transaction are mainly retirement annuities and individual life insurance operations. It should be noted that the  Transaction  is  subject  to  the  approval  of the  Superintendency  of  Banking, Insurance and Private Pension Funds of Peru. Likewise, under the authorizations that will be requested from the regulator and at the end of the integration phase,
Interseguro Compañía de Seguros S.A., a subsidiary of IFS, will absorb Seguros Sura S.A.

The initial base price of the Transaction was agreed at USD 268 million, subject to an eventual adjustment to be made prior to the closing date of the Transaction. The  Transaction  will  enable  IFS  to  strengthen  its  position  in  the  annuities  and individual life insurance market to consolidate itself as a leading diversified financial services company in Peru.

IFS, through Interbank, Interseguro and Inteligo, reiterates its commitment to provide high quality financial services to our customers and to contribute to Peru’s sustainable growth.

Please, download the press release here.