Caixa Seguridade restarts search for partners

Caixa Seguridade restarts search for partners

M&A Corporate & Sovereign Strategy Regulation Brazil

Caixa Seguridade, the insurance business of Brazil's state-owned savings bank Caixa Econômica Federal, said it has restarted the search for partners to sell its products. Caixa formed a joint venture with France CNP Assurances in August last year to sell life insurance at the bank's branches, with CNP paying BRL4.65bn ($1.18bn) for 40% of the new company. Now the bank has put out the call for partners to help it sell car insurance, home insurance and savings bonds through 20-year agreements, sta

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