Honduran insurance company Seguros Capital’s government appointed director, Marco Antonio Aviles, said they will start selling its credit insurance, life and property portfolios, valued at 80mn lempiras (US$4.7mn), during the second week of February.
To date five groups have asked the country's banking regulator for permission to buy the portfolios, Aviles said. “By law the buyer must be a local company.”
"There are a couple of groups that are interested in buying the company, that is, its shares or assets and liabilities," he said, adding “Seguros Capital has not been valued as a going concern yet.”
The banking regulator started the liquidation of Seguros Capital this week after it failed to put up 34mn lempiras to back its insurance policies. The regulator claims a similar amount of money was siphoned out of the company and used to build two floors of an unfinished building.
