Home Breadcrumb caret Industry News Breadcrumb caret Industry Scotiabank sells pension and insurance business in Dominican Republic The bank is also selling other operations in Central America By The Canadian Press | December 20, 2018 | Last updated on December 20, 2018 1 min read © Andriy Popov / 123RF Stock Photo Scotiabank has signed a deal to sell its pension and related insurance businesses in the Dominican Republic. The Canadian bank says it will sell Scotia Crecer AFP and Scotia Seguros to Grupo Rizek. Financial terms of the deal were not immediately available, but Scotiabank says the transaction is not financially material to the bank. Grupo Rizek is a diversified business group in the Dominican Republic. The deal is subject to regulatory approvals and customary closing conditions. The sale follows an announcement last month by Scotiabank that it was selling its banking operations in nine Caribbean countries and its insurance operations in Jamaica and Trinidad and Tobago. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo