Banco Bradesco in talks to sell insurance business to Swiss Re: Source
Posted On: Nov. 16, 2015 12:00 AM CSTA 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.