BB Seguridade eyes Itaú's high-risk insurance portfolio - CFO
SAO PAULO Feb 12 (Reuters) - BB Seguridade Participações SA , Brazil's largest listed insurance company, is analyzing a potential bid for Itaú Unibanco Holding SA's high-risk corporate insurance portfolio, Chief Financial Officer Leonardo Mattedi said on Wednesday.
Itaú, Brazil's largest bank by market value, put the unit up for sale late last month in a bid to deploy capital more efficiently in coming years. Itaú could fetch about 1 billion reais ($424 million) from the sale, according to Francisco Kops, an analyst at Banco Safra's brokerage unit.
BB Seguridade, which is controlled by state-run banco do Brasil Sa, plans to enter the global market for reinsurance jointly with reinsurer IRB-Brasil, Mattedi and other executives said at an event in São Paulo.
- Obama makes rare campaign trail appearance, people leave early
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders |
- Obama makes rare campaign trail appearance, some leave early
- Nigeria declared Ebola-free, holds lessons for others |
- U.S. stocks end higher despite drag from IBM