Swiss Re and Bradesco Seguros’ Joint Venture


Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga, Souza, Cescon, Barrieu & Flesch and Willkie Farr & Gallagher advised on the transaction

Swiss Re Corporate Solutions Ltd, the commercial insurance arm of the Swiss Re Group, and Bradesco Seguros S.A., a company controlled by Banco Bradesco S.A., have closed the transaction announced in October 2016 and officially started the joint venture operation in Brazil. Bradesco Seguros’ commercial large-risk portfolio has been integrated into Swiss Re Corporate Solutions Brasil Seguros S.A. (SRCSB), making it one of the leading Brazilian players in this segment. Swiss Re Corporate Solutions Ltd retains a 60% stake in SRCSB while Bradesco Seguros holds a 40% equity stake.

The partnership gives SRCSB exclusive access to Bradesco Seguros’ distribution network, which is comprised of more than 140 insurance branches, over 5 000 Banco Bradesco bank branches and around 40 000 registered insurance brokers and agents. As part of the transaction, approximately 120 of Bradesco Seguros’ large-risk specialists in Sao Paulo and Rio de Janeiro have joined SRCSB.

Upon closing this transaction, SRCSB became one of the leading insurers in the large-risk insurance market in Brazil, with a total of roughly BRL 820 million (USD 250 million) in gross written premium and significant growth potential.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised Bradesco Seguros S.A. and Bradesco AutoRE Companhia de Seguros with João Ricardo de Azevedo Ribeiro (Picture), Marcelo Mansur Haddad, Pedro Whitaker de Souza Dias, Flavio Mifano, Bruno Rieger Salzano, Gustavo Gumier Motta, Manuela Ribeiro Libório and Bruno Paccola Moreira Fernandes.

Souza, Cescon, Barrieu & Flesch advised Swiss Re Corporate Solutions Ltd. with Marcos Flesch, Roberto Pary, Fabíola Cammarota, Ricardo Gaillard, Luciana Trindade, Bruno Tanus, Isabela Coelho, Deborah Giacomini and Regina Ramos.

In US, Willkie Farr & Gallagher LLP advised Swiss Re Corporate Solutions Ltd. with Gregory Astrachan, Rajab Abbassi, Christopher Peters, Jordan Messinger y David Mortlock, Elizabeth Bannigan, Julian Golay, Andrés Ordóñez, Erin Kinney, David Stauber, Bradley Friedman and Anush Yegyazarian.

Involved fees earner: Marcos Rafael Flesch – Souza, Cescon, Barrieu e Flesch; Roberto Augusto Nogueira de Pary – Souza, Cescon, Barrieu e Flesch; Luciana de Andrade Trindade – Souza, Cescon, Barrieu e Flesch; Bruno Tanus Job e Meira – Souza, Cescon, Barrieu e Flesch; Isabela Bagueira Leal Coelho do Val – Souza, Cescon, Barrieu e Flesch; Deborah Christina Giacomini – Souza, Cescon, Barrieu e Flesch; Fabíola Cammarota de Abreu – Souza, Cescon, Barrieu e Flesch; Ricardo Lara Gaillard – Souza, Cescon, Barrieu e Flesch; João Ricardo de Azevedo Ribeiro – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Pedro Whitaker de Souza Dias – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Gustavo Gumier Motta – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Manuela Ribeiro Liborio – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Bruno Rieger Salzano – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Bruno Paccola Moreira Fernandes – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Marcelo Mansur Haddad – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Gregory Astrachan – Willkie Farr & Gallagher; Rajab Abbassi – Willkie Farr & Gallagher; Elizabeth Bannigan – Willkie Farr & Gallagher; Julian Golay – Willkie Farr & Gallagher; Andres Ordoñez – Willkie Farr & Gallagher; Erin Kinney – Willkie Farr & Gallagher; Bradley Friedman – Willkie Farr & Gallagher; Christopher Peters – Willkie Farr & Gallagher; Jordan Messinger – Willkie Farr & Gallagher; David Mortlock – Willkie Farr & Gallagher;

Law Firms: Souza, Cescon, Barrieu e Flesch; Mattos Filho Veiga Filho Marrey Jr & Quiroga; Willkie Farr & Gallagher;

Clients: Swiss Re; Bradesco Seguros SA;

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Author: Ambrogio Visconti.