Brazil News

Brazil Weighs Sale of Some of Its Stake in IRB in $1.3B Reinsurer IPO: Sources

Brazil’s government is considering the sale of some of its stake in IRB-Brasil Resseguros SA, the largest reinsurer in Latin America, in a 4 billion-real ($1.3 billion) initial public offering, two people with direct knowledge of the matter said. In …

AXA to Acquire Large Commercial Risks Subsidiary of SulAmérica

AXA announced it has entered into an agreement with SulAmérica SA to acquire 100 percent of its large industrial and commercial risks insurance subsidiary, SulAmérica Companhia de Seguros Gerais, for 135 million Brazilian real ($44.7 million ). The subsidiary handles …

Travelers to Buy Majority Interest in P&C Business of Brazil Joint Venture

The Travelers Companies Inc. announced that it has agreed to acquire a majority interest in the property and casualty business of its J. Malucelli Participações em Seguros e Resseguros S.A. joint venture in Brazil. J. Malucelli commenced writing P&C business …

IRB Brasil RE Seeks to More Aggressive Growth in Latam, Africa; Weighs IPO

IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil’s largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer …

XL Group Bolsters Marine Insurance Capabilities in Brazil With 2 Appointments

XL Group has appointed Nicolás da Silva as marine liability underwriter and Leandro Meili as marine risk engineer, strengthening its marine insurance capabilities in Brazil. Previously, da Silva worked at AIG Seguros Brasil, where he underwrote risks in marine including ports and terminal …

XL Group Appoints New Technical Officer of Brazil Unit

XL Group has appointed Thisiani Matsumura Martins as technical officer of its insurance operation in Brazil, subject to approval by the local supervisory authority. She succeeds Juan Bragadin, who will continue working with XL Group as a consultant in the Latin …

European Banks have $3.4 Trillion of Exposures to Emerging Markets

European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies. The …

Big Brazil Health Insurance Deal May be Tough to Replicate

With a $4.9 billion takeover of Brazil’s biggest healthcare provider, UnitedHealth Group appears to have snatched the crown jewel in a market with plenty of promise but formidable barriers to entry for any foreign rivals looking to follow suit. UnitedHealth’s …

Aon Outlines Risk Management Approach for Emerging Economies

A bulletin from Aon Global Risk Consulting, the risk management arm of Aon plc, using responses from 100 senior risk industry professionals at its annual Client Symposium, indicates that “organizations in Central and Eastern Europe and additional emerging markets are keen …

Black Heads Swiss Re’s Brazilian, So. American Reinsurance Operations

Swiss Re announced that it now operates as a Local Reinsurer in Brazil under new leader Margo Black, as its Head of Reinsurance for Latin America South and President of Swiss Re Brasil Resseguros SA. “She starts at a historic …