Banco Itaú Unibanco could sell Garantec, Instituto Brasileiro de Resseguros (IRB) and DPVAT portfolio
Banco Itaú Unibanco poderia vender Garantec, Instituto Brasileiro de Resseguros (IRB) e a carteira de DPVAT
Intel ID : 221220
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Itaú's president, Roberto Setubal, said the company is selling some insurance assets, such as big risks [insurance] business . He did not refer which businesses would be for sale. However, the executive said that the extended warranty operations (known as Garantec), health, stake in Instituto Brasileiro de Resseguros (IRB) and DPVAT portfolio (compulsory insurance for traffic accidents) are not strategic assets. One of the the most relevant operations is Garantec, which registers annual revenues of BRL 1.50bn and controls in excess of 50% of the extended warranty market.
(content in portuguese)
O presidente do Itaú, Roberto Setubal, disse que a empresa está vendendo algumas áreas de seguros, como o negócio de [seguros de] grandes riscos. Ele não se pronunciaria sobre quais negócios estariam à venda. No entanto, o executivo afirmou que as operações de garantia estendida (conhecida como Garantec), saúde, a participação no Instituto Brasileiro de Resseguros (IRB) e a carteira de DPVAT (seguro obrigatório para acidentes de trânsito) não são estratégicas para o banco. Entre essas operações, uma das mais relevantes é a Garantec, que tem faturamento de BRL 1,5bi por ano e mais de 50% do mercado de garantia estendida. |
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| Intel ID | 221220 | |
| Value | ND | |
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Brazilian Real (BRL)
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Financial Data - Itaú Unibanco Holding
(31 Dec 2024) |
Revenue: EUR 3.215,26m Exchange Rate: 
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25.04.03 Holding Companies / Financial Holding Companies 25 Financial Services / 25.04 Other Financial Services |
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25.01.03 Commercial, Retail & Mortgage Banking 25 Financial Services / 25.01 Banking & Investment |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.