Seguros Davivienda S.A. (Honduras)

Seguros Davivienda S.A. is an insurance company located in Tegucigalpa, Honduras. The company was initially known as "EL AHORRO HONDUREÑO, COMPAÑÍA CENTROAMERICANA DE SEGUROS Y CAJA DE AHORROS" and played a significant role in introducing the practice of insurance in Honduras. They focused on convincing the public of the economic benefits of subscribing to insurance. Over time, the company expanded its services and created the Department of Savings Deposits, which allowed individuals to have their own individual savings boxes at home. Due to the lack of regulations and its nature, EL AHORRO HONDUREÑO also engaged in financial operations similar to banking institutions. They established the Technical Department of the company and introduced Personal Accident Insurance in June 1937, which complemented their Life Insurance Department. The company started paying out claims for insured individuals, providing genuine protection against unfortunate events. Later on, the Group BGA and Seguros El Ahorro Hondureño became part of one of the most important Financial and Insurance Groups in Central America, Grupo Banistmo. Grupo Banistmo was then acquired by HSBC, one of the largest financial groups in the world. HSBC introduced its brand in the country, and all insurance offices adopted the new HSBC brand. HSBC announced the sale of its operations in Costa Rica, El Salvador, and Honduras, including HSBC Seguros, to Banco Davivienda S.A., a Colombian banking group, for a total of USD$801 million in cash. The sale was announced after obtaining the necessary regulatory approvals for the transfer of shares and the change of name of the companies that make up the HSBC Honduras Financial Group to Banco Davivienda Honduras S.A. As a result, all offices and branches in the country were rebranded as Davivienda, including Davivienda Seguros in insurance offices and estimation centers.