Bolivia and Brazil
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Itau insures pipeline for US$2.9mn

Bnamericas Published: Saturday, May 31, 2003
Itau Seguros has been awarded a contract to insure the Brazil-Bolivia gas pipeline against operational risks, financial daily Gazeta Mercantil reported Friday. TBG, which owns the pipeline, will disburse US$2.9mn for the insurance, about a third more than the US$2.1mn it paid in 2002. Itau heads up a consortium that also comprises Bradesco Seguros and Unibanco-AIG Seguros. Other bidders made very similar offers because IRB Brasil RE, the Brazilian reinsurance monopoly, serves as the benchmark for domestic insurance prices.

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