Brazil News

Chubb CEO Greenberg Blames Brazil’s Leaders for Exacerbating Economic Woes

Evan Greenberg, the chief executive officer of Chubb Ltd., said Brazilians can blame their country’s leaders, and not just a commodities slump, for the nation’s woes. “The economic environment, the political environment, is very tough,” Greenberg said Wednesday in a …

XL Catlin Appoints 2 P&C Underwriters in Brazil to Help with Strategic Expansion

XL Catlin announced it has strengthened its Brazilian team with two appointments. Patricia Britto has joined as property underwriter and Luiz Carlos Dos Santos as senior casualty underwriter – both based in Sao Paulo. These two appointments are part of …

Brazil Police Accuse Vale, Samarco of Environmental Crime for Mine Disaster

Brazil’s Federal Police accused Vale SA and its Brazilian joint venture with BHP Billiton Ltd of environmental crime related to a November dam collapse that destroyed a city in the country’s southeast and sent waves of toxic mud downstream into …

France’s CNP Assurances in Talks to Buy BTG’s Brazil Insurance Units

French insurer CNP Assurances has entered exclusive talks with Grupo BTG Pactual SA to buy its 51 percent stake in Brazilian insurer Pan Seguros, two sources familiar with the matter said on Tuesday. CNP Assurances has offered 1.6 billion Brazilian reais ($396 million) …

Brazil Mine Disaster Shows Value (and Harm) of Public Relations Responses

Within hours of a deadly mining spill in November that would become Brazil’s worst environmental disaster, BHP Chief Executive Andrew Mackenzie was in front of a camera offering his sympathies to those affected. Meanwhile, his counterpart at joint venture partner …

Floods Force Mass Evacuations in Paraguay, Argentina, Uruguay, Brazil

Widespread floods have forced nearly 140,000 people from their homes in Paraguay, Argentina, Uruguay and Brazil following days of torrential rains that drenched a region where the countries border each other. Paraguay is the hardest hit with at least 100,000 …

Brazil to Sue BHP and Vale for $5.24B in Damages Caused by Burst Dam Disaster

Brazil’s federal and state governments plan to sue the owners of the Samarco iron ore miner for 20 billion reais ($5.24 billion) in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday …

Brazil Mining Disaster to Lead to Stricter Insurance Standards, Oversight

Brazil’s worst mining accident will lead to stricter insurance standards under a revised version of an industry bill first introduced to Congress two years ago. The cost of damage to communities, loss of life and environmental consequences from the Nov. 5 dam failure …

Mine Disasters Show Real Cost of Using Cheap Solutions for Waste Storage

As miners globally review the way they store waste in the wake of another horrific dam spill, the solution may be as simple as it is dramatic: spend a lot more. Images of sludge spewing into towns and rivers could …

Brazil Mine Disaster Could Devastate Ecosystem for Many Years

The collapse of two dams at a Brazilian mine has cut off drinking water for quarter of a million people and saturated waterways downstream with dense orange sediment that could wreck the ecosystem for years to come. Nine people were …