Brazil News

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 subject to …

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 …

BHP to Fight $6B Civil Claim over Brazil Mining Disaster

BHP Billiton on Friday said it would appeal against the decision by a Brazilian court to reinstate a $6 billion public civil claim over last year’s Samarco iron ore mine disaster. BHP and 50-50 joint-venture partner Vale had agreed on …

AXA Plans Additional Acquisitions in Brazil’s Expanding Insurance Market

AXA SA, France’s largest insurer, is open to more acquisitions to keep expanding in Brazil even as Latin America’s largest economy suffers its deepest recession on record. AXA expects Brazil’s 360 billion-real ($102 billion) insurance market to grow 10 percent …

Samarco, BHP & Vale Agree to Pay $5B in Damages for Brazil Mining Disaster

Mining company Samarco and its owners, BHP Billiton and Vale SA , reached a deal with the Brazilian government on Wednesday to pay an estimated 20 billion reais ($5.1 billion) in damages over 15 years for a deadly dam spill in November. …

Brazil & Samarco Close to Agreeing on Damages from Mining Disaster

Brazil’s government and Samarco Mineracao SA are meeting on Friday to finalize the settlement of a lawsuit for damages caused by a deadly dam spill at a mine in November, with the attorney general’s office saying the accord was 95 percent complete. …