XL Capital Ltd in Bermuda and Brazil's Banco Ita? Holding Financeira S.A. said last week that they have entered a definitive agreement to form a joint venture insurance company in Brazil.
The announcement follows the Jan. 30 news that both parties had signed a memorandum of understanding. The joint venture is subject to final regulatory approval.
The new insurance company, ITA? XL Seguros Corporativos S.A., will combine the current Brazilian property, casualty and specialty commercial insurance business of S?o Paulo, Brazil-based ITA? bank and XL and will operate in Brazil's commercial insurance market.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
