Summary of Proposed Investment
Project Number
30261
Company Name
TERRA BRASIS RESSEGUROS S.A.
Date SPI Disclosed
Apr 12, 2011
Country
Brazil
Industry
Financial Markets
Projected Board Date
May 20, 2011
Status
Completed
Sector
Reinsurance
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : May 31, 2011
Signed : Feb 2, 2012
Invested : Dec 21, 2012
Project Description
The proposed project consists in the launch of a greenfield reinsurance company (“Terra Brasis” or the “Company”) in Brazil. Today the reinsurance market in Brazil presents a strong development potential for new domestic private owned reinsurance companies given: (i) the pipeline of investments in logistic, energy and infrastructure; (ii) the events that the country will host in the next six years (the World Cup and the Summer Olympic Games); (iii) the discovery of important oil reserves in the so called pre-salt layer, which will bring significant investments in the oil exploration chain; and (iv) the growth of the economy as a whole, which creates necessity for more (re)insurance coverage. Terra Brasis will increase reinsurance capacity in the Brazilian market and will create a new reinsurance alternative for insurance companies operating in Brazil.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Paulo Botti
Av. Juscelino Kubitschek, 1700, 12 andar
São Paulo, SP, 04552-080, Brazil
Phone: +55 11 3320-5000
Fax: +55 11 3320-5001
Email: paulo.botti@terrabrasisre.com.br
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