Swiss Re, Bradesco Seguros to create large risks joint venture

Brazilian insurer Bradesco Seguros S.A. is on the verge of closing a deal with Swiss Re Ltd. to create a large risks joint venture, reported BNamericas citing Valor Economico newspaper.

The joint venture will allow Bradesco to transfer its large risks portfolio to the reinsurer, which will then place it in a separate firm.

Bradesco will own no more than a 40% stake in the firm.

The transaction is likely to total up to 750 million Brazilian reals ($215 million).

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