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News from Latin America
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July 24, 2001: 1:08 p.m. ET
Terra plans to sell insurance; Inter.net launches a portal in Portugal
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NEW YORK (BNamericas.com) - Sumejorcredito expects to turn profitable later this year, Terra Lycos plans to sell products online with insurance broker Andueza, and Inter.net has launched a portal in Portugal.
Sumejorcredito sees a profit ahead
Chilean online credit broker Sumejorcredito has transacted 80 mortgage loans and 550 consumer loans during the first seven months of 2001 and expects to turn a profit later this year.
Sumejorcredito – launched by a group of Chilean bankers last October as a sales channel between member banks and their customer borrowers – merged with regional online lender The Credit Company in May.
The merger facilitates Sumejorcredito's regional expansion plans because The Credit Company already has a presence in Brazil, Mexico, and Argentina, Ovalle said, adding that the deal also had a positive impact on the company's operating results.
Terra plans to sell insurance
The Chilean subsidiary of Madrid, Spain-based Internet service provider Terra Lycos (TRLY: Research, Estimates) has signed an agreement with local insurance broker Andueza to sell its products online.
"We believe that this kind of offer is very important for our clients and users and this new channel will allow us to broaden our portfolio of services," Terra Chile CEO Jorge Martina said.
Under terms of the agreement, consumers will be able to research and sign up to insurance policies, some of which will only be available via Internet as part of Terra's strategy to build its e-commerce business.
Inter.net launches a portal in Portugal
Internet service provider and portal network Inter.net has launched a portal in Portugal, where it forecasts a profit within its first six months of operations, Spanish press reported.
"We found ourselves at the ideal time to introduce our global model in Portugal, given that ISPs currently operating there have a local focus," said Ruben Creus, manager of Inter.net's operations in Spain, which posted $244,000 revenue in the first quarter of 2001.
The Portuguese portal's content includes entertainment, tourism and technology channels. Users will also have access to chat, emails, forums, an online library and homepage creation services.
Source: BNamericas.com 
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