Brazil's Vinci Partners evaluates sale of Austral Re

Wednesday, January 3, 2018

Brazilian investment house Vinci Partners is planning to sell its reinsurance company Austral Re.

Vinci Partners is evaluating to sell the reinsurance company to a strategic partner or via a shares offer, according to O Estado de S. Paulo newspaper, which did not unveil the source of the information.

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A Vinci Partners spokesperson declined to comment, when contacted by BNamericas.

Austral Re is the country's third largest reinsurer in terms of premiums. The most recent figures available, for January-August 2017, show the company received premiums worth 355mn reais (US$109mn), almost double the 179mn reais of 2016, according to local consultancy Siscorp.

With this expansion, Austral Re's market share rose from 4% in 2016 to 6% in 2017.