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Bradesco and Swiss Re conclude joint insurance operation

Brazilian private bank Bradesco and Swiss insurance group Swiss Re have concluded the operation that will allow joint action in Brazil's large risk insurance sector, According to a statement to the market sent today by the banking institution.

Sao Paulo, July 3 (EFE) .- Brazilian private bank Bradesco and Swiss insurance group Swiss Re concluded the operation that will allow joint action in the insurance sector Large risks of Brazil, according to a statement to the market sent today by the banking institution.

According to the information, the conclusion of the process initiated on October 13, 2016 was completed "after the approval of the competent authorities and compliance with other usual contractual conditions" for this type of business.

To the Swiss group P & C (Property and Casualty) and transport operations of Bradesco Seguros, the Brazilian subsidiary of Swiss Re will have exclusive access to the bank's clients to exploit the Commercialization of large risk insurance.

Bradesco Seguros will hold 40% of Swiss Re's share in its Brazilian insurance division, while the group Swiss will remain in control with the remaining 60% of the shares through Swiss Re Corso, which is the parent company in Brazil.

With the transaction completed, Swiss Re Brazil "Will be the exclusive platform for the joint exploitation of products of the sector of insurance of great risks", segment in which the Swiss company pretends to become one of the "Leaders" in the South American country.

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