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International

Brazil: Insurer SulAmerica mulls sale of its risk portfolio

October 24, 2014 Reprints

Brazil's SulAmerica S.A. is planning to sell its risk insurance portfolio, BNamericas reports citing local news agency Agencia Estado. The insurer has hired Banco Itau BBA S.A. to handle the deal.

The move comes after the insurer's two billion-dollar policies resulted in legal disputes, insurance website Sonho Seguro said. SulAmerica was the third largest insurer in Brazil in 2013 with 12 billion Brazilian reals ($4.8 billion) in premiums and a market share of 11%.

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Brazil: Insurer SulAmerica mulls sale of its risk portfolio

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