Establishment of Banco do Brasil’s insurance operation.
Establishment of BB Corretora, whose corporate purpose is the brokerage of insurance, pension plans and premium bonds, and the administration of assets.
Brasilprev’s creation to operate in the private pension plans segment.
Brasilcap’s constitution in a partnership with SulAmérica, Icatu and Aliança da Bahia to operate in the premium bonds segment.
Establishment of Brasilveículos in partnership with SulAmérica, to sell auto insurance.
Partnership with Principal Financial Group to jointly operate in the private pension plans segment through Brasilprev.
Acquisition of Aliança do Brasil Seguros S.A. with the incorporation of Banco do Estado de Santa Catarina (BESC) by Banco do Brasil.
Start of the reorganization process in the insurance, pension plans and premium bonds segments by Banco do Brasil, using a model of partnership with private entities.
Renewal for more 23 years of the partnership started in 1999 with Principal Financial Group to jointly operate in the pension plans segment, through Brasilprev.
Establishment of a 20-years term partnership with the Spanish group MAPFRE through a joint venture called Grupo Segurador BB E MAPFRE, whose operation started in 2011 and was divided into two holding companies: BB MAPFRE SH1, which centralized life, rural and mortgage life insurance business; and MAPFRE BB SH2, focused on P&C insurances.
Increase of the economic stake in Brasilcap via acquisition of the shares held by Sulamérica, keeping the partnership with Icatu and Aliança da Bahia.
Establishment of BB Seguridade on December 20, 2012, based on article 1 of Law 11,908/09, which autorizes Banco do Brasil to set up wholly-owned and controlled subsidiaries to carry out the activities contemplated in its corporate purpose. Its creation was the result of a reorganization process of BB’s insurance, pension plans and premium bonds businesses between 2008-2011.
Formalization of 20-years term agreement between Banco do Brasil and BB Seguridade’s wholly-owned BB Corretora which sets out the conditions for BB Corretora to reimburse the costs related to the usage of BB’s facilities mainly those allocated into the sale of products.
In order to obtain a fairness pricing of its insurance business by the market and unlock value for its shareholders, Banco do Brasil decided to carry out BB Seguridade’s Initial Public Offering (IPO). Thus, on April 29, 2013, BB Seguridade went public in the Brazilian stock exchange listed in the Novo Mercado segment of B3 – Brasil, Bolsa, Balcão, the most advanced in corporate governance standards.
It were distributed 675 million common shares of BB Seguridade owned by Banco do Brasil in a 100% secondary offering that reached R$11.5 billion, being recognized as the largest IPO in the world in that year according to the International Financing Review.
Aligned with its expansion plas, BB Seguridade acquired an equity stake in IRB-Brasil RE, becoming part of IRB’s controlling group together with the Federal Government and private partners.
Establishment of the joint venture Brasildental Operadora de Planos Odontológicos S.A. (Brasildental), in a partnership with Odontoprev. The partnership started in 2014 for a period of 20 years.
Establishment of a sponsored Level I American Depositary Receipt (ADR) program – BB Seguridade’s shares are trading Over-the Counter (OTC) in the USA as American Depositary Receipts (ADRs) under the ticker BBSEY. The ratio is BBSE3 1:1 BBSEY.
Following the trend of digital transformation of the insurance industry, BB Seguridade created Ciclic Corretora de Seguros S.A, a joint venture between BB Corretora and Principal Financial Group. The company started its operation with the distribution of pension plans through digital channels, to serve non-banking clients. Recently, Ciclic included in its portfolio insurance and credit loans operations. The joint operation will last for 15 years.
Restructuring of the joint venture with MAPFRE. With this restructuring, the stake in MAPFRE BB SH2 was sold back to MAPFRE. The partnership started to operate with a new brand – Brasilseg, focused on life, credit life, rural, mortgage life, home and commercial insurances sold in the bancassurance channel and eventually in affinity channels. Regarding to auto insurance and large risks, previously operated by MAPFRE BB SH2, BB Seguridade maintained its exposure only in the distribution of these products through BB Corretora.
Secondary public offering of IRB-Brasil RE, resulting in the fully disposal of BB Seguros’ equity stake with net gain of R$2.3 billion.