Brazil News

Brazil’s BB Seguridade Expects Slower Growth as Recession Continues to Bite

State-controlled insurance holding company BB Seguridade Participações SA on Monday forecast slower profit growth this year, reflecting the impact of Brazil’s harshest recession ever and a rapid decline in interest rates. BB Seguridade projected an increase of 1 percent to …

Brazil Healthcare Insurer Intermédica Prepares for IPO: Sources

Brazilian healthcare services provider NotreDame Intermédica Sistema de Saude SA has hired banks to manage its initial public offering, which could be launched with a series of investor meetings as early as this week, two people with direct knowledge of …

Aon Completes Acquisition of Brazil Health & Benefits Firm, Admix

Aon announced it has completed its acquisition of Admix, the São Paulo, Brazil-based health and benefits brokerage and solutions firm. Financial terms were not disclosed. “Admix’s brokerage and operational platform combined with Aon’s world-class actuarial, brokerage, and consulting capabilities creates …

Emerging Risks/Markets Offer New Opportunities: 2017 Predictions, Part 3

Insurers and reinsurers continue to look for organic growth where they can find it – sometimes from emerging risks and sometimes from emerging markets. As always, the keys to success are market knowledge and patience. Providing a heads-up for such …

Aon Agrees to Buy Brazil Health & Benefits Broker and Solutions Firm, Admix

Aon announced it has entered into an agreement to acquire Admix, a leading health and benefits brokerage and solutions firm in Brazil. Financial terms of the agreement, which was announced on Nov. 25, were not disclosed and the acquisition is …

Capsicum Re Latin America Taps Ribeiro and Nunes from Carpenter, Aon Benfield

Capsicum Re, the London-based specialist reinsurance broker, announce it has hired Marcio Ribeiro and Júlia Nunes to Capsicum Re Latin America Brazil. Ribeiro is head of the facultative division and is based in Sao Paulo; Nunes is head of operations …

Brazil Charges 21 with Homicide for Failing to Avert Samarco Mine Disaster

Brazilian prosecutors charged 21 people with qualified homicide on Thursday for their roles in the collapse of a tailings dam at the Samarco Mineração SA iron ore mine last November that killed 19 people. The charges follow what is now …

Swiss Re Corporate Solutions & Bradesco Seguros Agree to Form Brazilian Large-Risk Insurer

Swiss Re Corporate Solutions Ltd. and Rio de Janeiro-based Bradesco Seguros S.A.* have signed definitive agreements under which Bradesco Seguros will contribute its commercial large-risk portfolio to Swiss Re Corporate Solutions Brasil Seguros S.A. (SRCSB). The agreements include SRCSB’s exclusive …

Brazil’s Prosecutor Expected to Seek Criminal Charges over Samarco Mine Disaster

Brazilian prosecutors are finalizing a criminal investigation into the Samarco mine disaster and expect to ask a judge by the end of September to charge employees, one of the prosecutors heading the case said. The investigation is looking into alleged …

Brazil Mine Disaster Caused by Poor Drainage & Design of Tailings Dam: Report

The deadly collapse of a tailings dam last November at the Samarco mine, owned by Vale SA and BHP Billiton, was caused by drainage and design flaws, a report into Brazil’s worst-ever environmental disaster showed on Monday. The 76-page report …