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Sompo to acquire Brazilian insurer Fator Seguradora
Sompo did not disclose financial terms, and the deal is subject to regulatory approval, with both companies continuing to operate independently until closing.
Sompo has agreed to acquire Brazilian commercial insurer Fator Seguradora, expanding the group’s corporate insurance portfolio in Brazil, according to Coverager.
Fator, founded in 2008 and headquartered in Sao Paulo, focuses on commercial property, surety and financial lines, serving businesses in sectors including construction, energy, infrastructure and oil and gas. The acquisition is intended to strengthen Sompo’s presence in specialty insurance segments where Fator has underwriting expertise.
Sompo said the transaction aligns with its sustainable growth strategy and its goal to expand relevance in technical segments with higher added value. Alfredo Lalia Neto, CEO of Sompo Brazil, said the deal supports an expansion of the company’s technical specialty position.
Financial terms were not disclosed. The transaction remains subject to regulatory approval, and Sompo and Fator will continue operating independently until the deal closes.