Brazil's state bank, Banco do Brasil, needed an arm to sell insurance across its vast branch network without carrying the risk on its own books. The answer was BB Seguridade — and the machine it built has become one of the most profitable businesses in Latin America. Full nameBB Seguridade Participações S.A. Ticker / exchangeBBSE3 · B3 (São Paulo); BBSEY · OTC (US ADR) HeadquartersBrasília, DF, Brazil SectorFinancial Services — Insurance (Diversified) Employees~190 (holding company; underwriting staff sit in subsidiaries) Market value (market cap)R$75.0bn (~US$14.5bn) (our calculation) Yearly sales (revenue, …
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