Tokio Marine Holdings Inc. announced it will pay 1.52 billion reais (US$374 million) to form a joint venture to sell mortgage and homeowners insurance for Caixa Econômica Federal, the Brazilian state-owned bank. Caixa’s insurance holding subsidiary, Caixa Seguridade, will set …
Brazilian state lender Caixa Economica Federal has chosen the bank syndicate that will manage the initial public offering (IPO) of its insurance unit, three sources with knowledge of the matter said. Morgan Stanley will lead a 10-bank syndicate including the …
Markel International, the London-based specialist insurer and subsidiary of Markel Corp., announced that it has sold its insurance operations in Brazil to its existing executive team. Markel Seguradora do Brasil, S.A. is authorized to operate in the direct insurance market …
Argo Seguros, the Brazilian underwriter of specialty insurance and reinsurance products and a member of Argo Group, announced the appointment of Newton Queiroz as CEO, effective May 1, 2019. Queiroz will report to Jorge Cazar, head of Latin America at …
Brazil’s Caixa Economica Federal is mulling strategic partnerships for its credit card, asset management and insurance units before taking them public, Chief Financial Officer Andre Laloni said on Friday [March 29]. This strategy is part of Caixa’s plan to raise …
State-owned Brazilian bank Caixa Economica Federal is hoping to raise 15 billion reais ($3.88 billion) through the listing of four of its subsidiaries, chief executive Pedro Guimaraes told newspaper O Globo in an interview published on Saturday. The bank aims …
Senior management at Brazilian miner Vale were never shown internal security documents indicating that its dam at Brumadinho was at risk of collapse, the company’s chief financial officer said on Tuesday [Feb. 12]. The CFO, Luciano Siani, was asked about …
Vale SA , the world’s largest iron ore miner, knew last year that the dam in Brazil that collapsed in January and killed at least 165 people had a heightened risk of rupturing, according to an internal document seen by …
A report commissioned by Brazilian miner Vale SA last year, to look into the stability of a tailings dam that ruptured on Jan. 25, certified it as sound but raised concerns over its drainage and monitoring systems. The report by …
The deadly collapse of a Vale SA tailings dam in Brazil is serving as a wake-up call for an industry that regularly cuts costs by storing mining waste in the cheapest possible way. The slurry of ground rock and effluents …
