Insurance, Reinsurance and Pensions

The insurance industry in Brazil was particularly active in 2014. Mattos Filho has a long tradition in the insurance, reinsurance and pension markets; one of the most relevant transactions in this segment last year was the ACE Group’s purchase of Itaú Seguros high-risk insurance portfolio for R$1.5 billion. Mattos Filho advised ACE in the transaction.

The acquisition turned ACE into the largest provider of high-risk insurance in Brazil, as well as the largest purchaser of reinsurance. Through a strong integration between the Insurance, Reinsurance and Pensions, Corporate, and Antitrust practices, Mattos Filho assisted ACE on structuring the deal, performed due diligence, drafted and negotiated agreements and advised on regulatory aspects of the transaction.

In addition, Zurich Insurance purchased the exclusive rights to sell insurance through the online retailer via varejo (a spin-off from the merger of Brazilian retailers Casas Bahia and Ponto Frio). This was the largest over-the-counter deal ever to take place in Brazil. Zurich Insurance was advised by Mattos Filho on strategic issues.

The Insurance, Reinsurance and Pensions practice throughout 2014 had its team of professionals strengthened with the election of two new partners, Camila Calais and Luciana Dias Prado, both experts on regulatory matters, including regulatory aspects of merger and acquisition transactions and corporate restructurings, as well as the arrival of Cassio Gama Amaral who reinforces the insurance litigation and claims regulation practice.

This practice has grown in the last few years and it maintains strong prospects for growth in 2015. Mattos Fillho anticipates increased activity in insurance claims and litigation during next year due to the downturn in Brazil’s economic scenario.