BB Looks to Spin off Insurance Arm

BB Looks to Spin off Insurance Arm

Brazil Equity Bonds

Banco do Brasil is planning to put its insurance operations into a new company that may IPO next year, it says. The state-controlled bank is seeking to consolidate its insurance businesses into a single company, BB Seguridade, to lower costs, increase scale and be better prepared for possible expansion. BB Seguridade would control Banco do Brasil’s two insurance joint ventures with Madrid-based Mapfre, and the bank plans to also expand into dental and health insurance brokerages. The listed comp

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