Austral’s Merger with Terra Brasis

Pinheiro Guimarães, Dias Carneiro Advogados and Stocche Forbes advised on the transaction

Austral Resseguradora S.A. and Terra Brasis Resseguros S.A. will merge their operations to create the second largest reinsurer in Brazil, with combined annual premiums of approximately US$200 million and R$1.6 billion of combined assets.

Austral Resseguradora SA is a local reinsurer operating in the Brazilian and international markets. The Company serves both insurers and reinsurance brokers.

Terra Brasis Resseguros S.A. provides reinsurance solutions to insurance companies in Brazil. The company was founded in 2010 and is headquartered in São Paulo.

Vinci Partners, Brasil Plural and the International Finance Corporation, which are shareholders of Austral and Terra Brasis, will control the resulting entity in a market that is dominated by local player IRB with a market share of 36%.

Closing of the transaction is subject to approval from antitrust authorities and Brazilian insurance regulator SUSEP.

Pinheiro Guimarães advised the Internacional Finance Corporation – IFC with a team led by partner Bruno Lardosa (Picture) working along Rene Mosteiro Brunet and Vitor Horta.

Brasil Plural was advised by Dias Carneiro Advogados with a team including Artur Fernandes Andrezo, Débora Trovões Cabral and Rodrigo Murussi.

Vinci Partners was advised by Stocche Forbes with a team including Frederico Moura and André Stocche.

Involved fees earner: Artur Fernandes Andrezo – Dias Carneiro Advogados; Rodrigo Murussi – Dias Carneiro Advogados; Débora Trovões Cabral – Dias Carneiro Advogados; Bruno Lardosa – Pinheiro Guimarães; Rene Mosteiro Brunet – Pinheiro Guimarães; André Mestriner Stocche – Stocche Forbes Advogados; Frederico Moura – Stocche Forbes Advogados;

Law Firms: Dias Carneiro Advogados; Pinheiro Guimarães; Stocche Forbes Advogados;

Clients: Brasil Plural S.A.; International Finance Corporation; Vinci Partners;

Author: Ambrogio Visconti.