Brazilian regulator approves Bradesco Seguros, Swiss Re JV

Posted On: Nov. 15, 2016 5:00 AM CST

Brazil's anti-trust regulator has approved a joint venture between insurers Bradesco Seguros S.A. and Swiss Re Corporate Solutions Brasil Seguros S.A., the commercial insurance arm of Swiss Re Ltd., BNamericas reported citing Estadao. Swiss Re paid $218 million to Bradesco Seguros for the 20-year partnership, which can be renewed automatically for another 20 years. Bradesco Seguros will hold a 40% stake in the JV, while Swiss Re will hold the rest.