Provida
 | This article needs more citations. (September 2014) |
 | |
| Type | Public |
|---|---|
| Industry | Financial services |
| Founded | 1981 |
| Headquarters | Santiago, Chile |
Key people | Gregorio Ruiz-Esquide (CEO) |
| Services | Pension fund management |
| Revenue |  US$352.6 million (2008) |
| Total assets | US$33.0 billion (2008) |
| Parent | MetLife |
| Website | www.provida.cl |
AFP Provida or Administradora de Fondos de Pensiones Provida (English: 'Provida Pension Fund Administrator') is the lead pension fund manager of the Chilean Pension Fund.[citation needed]
History
[edit]It was founded in 1981 under the eaves of Decree Law 3.500 in Chile, and launched a private pension system with 59 branches nationwide,[1] replicated in 10 years in Latin American countries (such as Mexico, Ecuador and the Dominican Republic) and also in Eastern Europe.
In 1999, AFP Provida was purchased by Spanish financial group BBVA for $1.54 billion.[2][failed verification]
In 2013, US insurance company MetLife purchased BBVA's 64.3% stake in AFP Provida for approximately $1.54 billion.[3]
References
[edit]- ↑ "AFP Provida (Administradora de Fondos de Pensiones Provida S.A.) | Chile | Company Information Profile | Contacts". BNAmericas. Archived from the original on 2014-01-18. Retrieved 2026-06-03.
- ↑ "Spain's BBVA completes sale of Chile's AFP Provida for $1.54 billion". Reuters. 2013-10-02 – via Yahoo News.
- ↑ "MetLife acquires BBVA interest in Chile's AFP Provida". BNAmericas. 2013-10-02.