Brazil News

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 …

Giancristofaro Appointed CEO for Willis’ Re Brazil Operations

Willis Group Holdings announced the appointment of Luigi Giancristofaro as CEO for its reinsurance operations in Brazil (Willis Corretora de Resseguros Ltda). He is based in Rio de Janeiro, and is primarily responsible for the broker’s Brazilian wholesale business. He …

New Prosecutor Seeks to Stop Chevron’s Brazil Operations

A new prosecutor in the case against Chevron Corp and drilling firm Transocean Ltd for an offshore oil spill said Thursday he will seek to suspend the companies’ operations in Brazil, a sign that he may be just as tough on …

Chevron, Transocean Face New Multi-billion Brazil Lawsuit; ‘Outrageous’ Say Companies

A Brazilian federal prosecutor on Tuesday launched his second 20 billion real ($10.9 billion) lawsuit against U.S. oil company Chevron and driller Transocean, doubling the stakes against the companies as critics call him as overzealous. The new lawsuit, the prosecutor’s …

Chevron, Transocean Charged in Brazilian Oil Spill

A Brazilian federal prosecutor filed criminal charges on Wednesday against Chevron and drill-rig operator Transocean for a November oil spill, raising the stakes in a legal saga that is adding to Chevron’s woes in Latin America and threatens to slow …

Brazilian Prosecutor to Charge Chevron Cannot Stop Oil Leak

A Brazilian prosecutor plans to allege this week that U.S. oil company Chevron has no way to stop a leak in an offshore oil field caused by a November drilling accident. Prosecutor Eduardo Santos de Oliveira told Reuters in a …

Survey Finds Emerging Markets’ Growth in Auto Financial Services

A survey from London-based Finaccord found that in ten emerging economies, surging car sales have doubled the value of their automotive finance and leasing markets in five years, to reach $182 billion Finaccord said: “The future of the global automotive …