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International

Banco Bradesco in talks to sell insurance business to Swiss Re: Source

November 16, 2015 Reprints

A source has said that Brazil's Banco Bradesco S.A. is in discussions to sell its high-risk insurance business for around 800 million Brazilian reals ($212.5 million) to Swiss Re Ltd., Bloomberg reports.

The insurance business to be sold protects construction and infrastructure projects as well as corporate real estate and equipment.

Increased competition and the failure of a predicted infrastructure boom to take shape have resulted in Brazil's largest banks to pull back from high-risk insurance lines.

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Banco Bradesco in talks to sell insurance business to Swiss Re: Source

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