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Member, Beacon International Group, Ltd.
Brazil-based insurer Sompo Seguros S.A. has set up a new department to tap into the local agribusiness and rural insurance market, JRS reported. The insurer has appointed Marcio Martinati to head the department. The insurer plans to provide products to cover crops, forests and herds. The initiative is part of Japan-based Sompo Holdings Inc.'s global strategy to expand its insurance and reinsurance products for agribusiness.