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30 May 2019, Natalia Yanakieva, Head of Industry Research, EMIS

Brazil's Caixa hires Morgan Stanley as co-advisor on insurance deals ahead of IPO - source

Brazilian state bank Caixa Economica Federal has hired investment bank Morgan Stanley as co-advisor to help find insurance partners, Reuters reported, quoting a source with knowledge of the matter.

The lender’s insurance arm Caixa Seguridade Participacoes opened up four procedures to select insurance partners to sell health, dental, assistance and large risk policies for 20 years.

The move is aimed at boosting Caixa Seguridade's revenue before its IPO, which is likely to take place in the coming months and which will see Caixa sell a minority stake and keep control over the insurance unit.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Reuters