Argentina's main brokerage firm, Allaria, has acquired a stake in Banco del Sol, owned by Grupo Sancor Seguros, marking its entry into the banking sector. Grupo Sancor Seguros is a market leader in insurance in Argentina, with activities also in Brazil, Uruguay, and Paraguay, focused on health insurance. The partnership between both companies aims to offer comprehensive financial services to businesses across the country.
As part of a strategic alliance, Sancor Seguros and Allaria announced the latter's entry into the shareholding of Banco del Sol. The purpose is to provide a new range of financial services and products to companies throughout Argentina. Through Allaria Créditos S.A., Allaria and Argenpymes will contribute to enhancing Banco del Sol's digital banking platform with various tools and services to improve financial management and access to financing for businesses.
Allaria's incorporation will strengthen Banco del Sol's service offering, leveraging Allaria's experience as a prominent Settlement and Compensation Agent in the country, its virtual wallet Allaria +, as well as its expertise in Reciprocal Guarantee Societies, agribusiness, real estate, fund management, and international wealth management. According to Alejandro Simón, CEO of Sancor Seguros, the partnership will allow for a more comprehensive proposal to current and future clients, reinforcing the strategy of being a key ally in business growth in Argentina.
For his part, Juan Politi, vice president of Allaria and head of Argenpymes, expressed that the collaboration with Sancor Seguros will make Banco del Sol a more solid and innovative platform, bringing together all the financial services and capital market solutions that businesses need to enhance their management in one place. Allaria's entry into the capital of Banco del Sol has been approved by the Central Bank.
Grupo Sancor Seguros, with nearly 80 years of experience, leads the insurance market in Argentina and the region, with an extensive network of insured parties, employees, and insurance advisors. Meanwhile, Allaria S.A. has over half a century of experience in asset management and investment execution, being a leader in the Argentine capital market. Together, both entities aim to leverage their strengths to provide comprehensive service to businesses in the country.
