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Sompo agrees to acquire Fator Seguradora in Brazil
Sompo said the deal would expand its portfolio of specialized corporate insurance and business risk management solutions in Brazil, and both firms will keep operating independently until regulators approve the transaction.
Sompo International Holdings Ltd. has formalized an agreement, through a wholly owned subsidiary, to acquire Brazil-based Fator Seguradora, a provider of corporate insurance and business risk management solutions.
Fator Seguradora is described as having strength in Property, Surety, and Financial Lines. Sompo said the acquisition is intended to strengthen its position in Brazil's corporate insurance market by expanding specialized, higher value-added offerings.
The transaction is subject to customary regulatory approvals. Pending approval, both companies will continue to operate independently, with no changes to day-to-day operations, and their commercial teams will maintain normal business activities to support continuity for brokers and clients.
Sompo added that the combination would broaden the range of sophisticated solutions for corporate clients and strengthen relationships with broker partners, particularly as Surety and Financial Lines are areas of growth for the company. Value Capital advised Sompo financially, while Mattos Filho served as legal counsel, with KPMG Brasil providing actuarial and operational advisory services. Goldman Sachs advised Fator Seguradora as financial adviser, and Machado Meyer acted as legal counsel.