Minas Gerais-based Copasa will buy insurance coverage for its top executive and board members.
Difficulties cutting government debt and spending could reduce the prospects for economic expansion in the long term.
Parent company Caixa is under legal scrutiny and this has made it more difficult for Caixa Seguridade to strike distribution deals with international players.
The global insurer singled out cyber security, transactional risks and multinational expansions as the three key financial exposures inherent in M&A deals facing businesses worldwide today.
Moving to the senate, the bill sets out to distribute unclaimed pension savings to low-income individuals.
The company will increase capital by US$31mn to shore up its equity position, which turned negative last year.
Brazil's insurance industry sees attractive opportunities in helping investors from China protect their investments and navigate the Brazilian business landscape.