Brazilian reinsurers Terra Brasis, Austral in merger talks

Bnamericas Published: Thursday, August 23, 2018
Brazilian reinsurers Terra Brasis, Austral in merger talks

Brazilian reinsurance companies Terra Brasis and Austral Re are reportedly in preliminary talks to merge.

The companies are holding preliminary talks directly, without the participation of financial advisers, according to o Estado de S. Paulo newspaper, which did not unveil where it obtain the information.

Contacted by BNamericas, spokespeople at the reinsurers declined to comment.

Autral Re is controlled by Vinci Partners, while Terra Brasis is controlled by Brasil Plural.

Combined, Austral Re and Terra Brasis would have assets of 1.3bn reais (US$325mn) and a market share of 6%. The Brazilian reinsurance market is dominated by local player IRB, which have a market share of 46%.

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