Swiss Re, Bradesco launch commercial insurance venture in Brazil

Banco Bradesco

13/10/2016 12:07

ZURICH, Oct 13 (Reuters) - Swiss Re  SRENH.S  and Brazil's 
Bradesco Group  BBDC4.SA  have launched a joint venture to 
create a commercial large-risk insurer in Brazil, the Swiss 
reinsurer said on Thursday. 
    Swiss Re said its commercial insurance arm signed a 
definitive agreement with Bradesco Seguros, the Brazilian 
banking group's insurance conglomerate, under which Bradesco 
Seguros would contribute its commercial large-risk portfolio to 
Swiss Re Corporate Solutions Brasil Seguros (SRCSB). 
    Bradesco would take a 40 percent equity stake in the joint 
venture, Swiss Re said, while its corporate solutions business 
would retain a 60 percent stake upon closing of the transaction, 
which is subject to regulatory approval. 
 
 (Reporting by Brenna Hughes Neghaiwi; Editing by Michael 
Shields) 
 ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)) 
 
Keywords: SWISS RE BRADESCO/JOINTVENTURE