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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.
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.