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Brazil: Caixa mulls partnership in BTG Pactual's corporate insurance unit

May 5, 2014 - 6:00am

Brazil's state-owned Caixa Econômica Federal is looking at possibilities of becoming a partner in Grupo BTG Pactual S.A.'s corporate insurance unit, sources told Reuters.

The sources told the news agency that BTG Pactual, an investment banking firm, is currently negotiating the acquisition of Banco PanAmericano S.A.'s insurance unit and could incorporate this unit into its own business. Through this move, Caixa may secure foothold in the corporate and high risk insurance segment.

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