{"id":825621,"date":"2025-03-13T16:13:41","date_gmt":"2025-03-13T20:13:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/"},"modified":"2025-03-13T16:13:41","modified_gmt":"2025-03-13T20:13:41","slug":"credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/","title":{"rendered":"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Lima, March  13, 2025  (GLOBE NEWSWIRE) &#8212; <strong>Lima, PERU, March 13<sup>th<\/sup>, 2025 \u2013 Credicorp Ltd. (\u201cCredicorp\u201d) (NYSE: BAP | BVL: BAP)<\/strong>, the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, announced today that it has successfully completed the acquisition of Empresas Banm\u00e9dica\u2019s (\u201cBanmedica\u201d) remaining 50% interest in the joint venture executed in December 2014 between Pac\u00edfico Compa\u00f1\u00eda de Seguros y Reaseguros S.A. (\u201cPacifico Seguros\u201d) and Banmedica. The transaction has received all necessary regulatory approvals and met closing conditions. This follows the initial announcement of the agreement on October 31<sup>st<\/sup>, 2024.<\/p>\n<p align=\"justify\">In December 2014, Pacifico Seguros and Banmedica established a joint venture to participate as equal partners in the private medical insurance (referred to as Medical Assistance in Credicorp\u2019s quarterly earnings releases), corporate health insurance for employees, and medical services businesses in Peru.<\/p>\n<p align=\"justify\">With the completion of this acquisition, Banmedica has transferred its 50% interest in the private medical insurance business in Peru to Pacifico Seguros, while its 50% interest in Pac\u00edfico S.A. Entidad Prestadora de Salud (\u201cPacifico EPS\u201d), which manages the corporate health insurance for employees and medical services businesses in Peru, has been transferred to Credicorp\u2019s subsidiary Grupo Cr\u00e9dito S.A. As a result, Credicorp, through its subsidiaries Pacifico Seguros and Grupo Cr\u00e9dito S.A. is now the sole owner of both the private medical insurance business and Pacifico EPS.<\/p>\n<p align=\"justify\">\n        <i>\u201cThis acquisition enhances Credicorp\u2019s ability to fulfill its aspiration of creating a more sustainable and inclusive economy by improving insurance and healthcare access while advancing financial inclusion in Peru,\u201d <\/i>noted Gianfranco Ferrari, CEO of Credicorp Ltd.\u00a0<i> \u201cWe remain committed to investing in the country and the sector, ensuring Pacifico Seguros and Pacifico EPS remain trusted partners for Peruvian families\u201d.<\/i><\/p>\n<p align=\"justify\">Following the transaction, customers, policyholders, agents, and other stakeholders can expect a seamless transition with no disruptions to services, product terms, or policy administration. <\/p>\n<p align=\"justify\">\n        <b>About Credicorp<\/b><br \/>\n        <br \/>Credicorp (NYSE: BAP) is the leading financial services holding company in\u00a0Peru\u00a0with presence in\u00a0Chile,\u00a0Colombia, Bolivia, and\u00a0Panama.\u00a0Credicorp\u00a0has a diversified business portfolio organized into four lines of business: Universal Banking, through\u00a0Banco de Cr\u00e9dito del Peru\u00a0(\u201cBCP\u201d) and\u00a0Banco de Cr\u00e9dito de Bolivia; Microfinance, through Mibanco in\u00a0Peru\u00a0and\u00a0Colombia; Insurance &amp; Pension Funds, through Grupo Pacifico and\u00a0Prima AFP; and Investment Management &amp; Advisory, through\u00a0Credicorp Capital, Wealth Management at\u00a0BCP and ASB Bank Corp.<\/p>\n<p align=\"justify\">\n        <b>About Pacifico EPS<\/b><br \/>\n        <br \/>Pacifico EPS is one of the largest corporate health insurance for employees and medical services providers in\u00a0Peru, with over one million clients. The company reported a net income of S\/ 207 million for 2024, highlighting its robust financial performance.\u00a0\u00a0<\/p>\n<p align=\"justify\">\n        <b>About Pacifico Seguros<\/b><br \/>\n        <br \/>Pacifico Seguros is one of the leading insurance companies in\u00a0Peru\u00a0and is part of\u00a0Credicorp. In 2024 the company reported a net income of S\/ 770 million. The company offers a wide range of insurance products, including life, private health, automobile, and property insurance.<\/p>\n<p align=\"justify\">For further information please contact the IR team:<\/p>\n<p align=\"justify\">\n        <a href=\"mailto:Investorrelations@credicorpperu.com\" rel=\"nofollow\" target=\"_blank\">Investorrelations@credicorpperu.com<\/a>\n      <\/p>\n<p align=\"justify\">\n        <b>Investor Relations<\/b><br \/>\n        <br \/>\n        <b>Credicorp Ltd.<\/b>\n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5NDI5MiM2ODA1NzQxIzIwMTAyNDc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YjYyOWQ2YTAtYzI5Zi00YWQ2LWJiNjAtN2JjNmI1ODY0NDQ0LTEwMjE4MjAtMjAyNS0wMy0xMy1lbg==\/tiny\/CREDICORP-LTD-C-O-BANCO-DE-CRE.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lima, March 13, 2025 (GLOBE NEWSWIRE) &#8212; Lima, PERU, March 13th, 2025 \u2013 Credicorp Ltd. (\u201cCredicorp\u201d) (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, announced today that it has successfully completed the acquisition of Empresas Banm\u00e9dica\u2019s (\u201cBanmedica\u201d) remaining 50% interest in the joint venture executed in December 2014 between Pac\u00edfico Compa\u00f1\u00eda de Seguros y Reaseguros S.A. (\u201cPacifico Seguros\u201d) and Banmedica. The transaction has received all necessary regulatory approvals and met closing conditions. This follows the initial announcement of the agreement on October 31st, 2024. In December 2014, Pacifico Seguros and Banmedica established a joint venture to participate as equal partners in the private medical insurance (referred &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-825621","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Lima, March 13, 2025 (GLOBE NEWSWIRE) &#8212; Lima, PERU, March 13th, 2025 \u2013 Credicorp Ltd. (\u201cCredicorp\u201d) (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, announced today that it has successfully completed the acquisition of Empresas Banm\u00e9dica\u2019s (\u201cBanmedica\u201d) remaining 50% interest in the joint venture executed in December 2014 between Pac\u00edfico Compa\u00f1\u00eda de Seguros y Reaseguros S.A. (\u201cPacifico Seguros\u201d) and Banmedica. The transaction has received all necessary regulatory approvals and met closing conditions. This follows the initial announcement of the agreement on October 31st, 2024. In December 2014, Pacifico Seguros and Banmedica established a joint venture to participate as equal partners in the private medical insurance (referred &hellip; Continue reading &quot;Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-13T20:13:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5NDI5MiM2ODA1NzQxIzIwMTAyNDc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica\",\"datePublished\":\"2025-03-13T20:13:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\\\/\"},\"wordCount\":515,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTM5NDI5MiM2ODA1NzQxIzIwMTAyNDc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\\\/\",\"name\":\"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica - 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(\u201cCredicorp\u201d) (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, announced today that it has successfully completed the acquisition of Empresas Banm\u00e9dica\u2019s (\u201cBanmedica\u201d) remaining 50% interest in the joint venture executed in December 2014 between Pac\u00edfico Compa\u00f1\u00eda de Seguros y Reaseguros S.A. (\u201cPacifico Seguros\u201d) and Banmedica. The transaction has received all necessary regulatory approvals and met closing conditions. This follows the initial announcement of the agreement on October 31st, 2024. In December 2014, Pacifico Seguros and Banmedica established a joint venture to participate as equal partners in the private medical insurance (referred &hellip; Continue reading \"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-13T20:13:41+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5NDI5MiM2ODA1NzQxIzIwMTAyNDc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica","datePublished":"2025-03-13T20:13:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/"},"wordCount":515,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5NDI5MiM2ODA1NzQxIzIwMTAyNDc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/credicorp-ltd-credicorp-ltd-completes-acquisition-of-remaining-50-stake-in-joint-venture-with-empresas-banmedica\/","name":"Credicorp Ltd.: Credicorp Ltd. completes acquisition of remaining 50% stake in joint venture with Empresas Banm\u00e9dica - 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