Key insights
- Brazil saw its first public insurance-linked security issuance, raising $25 million for credit insurance operations of a major retail company. This marks a significant development in the Brazilian financial market, potentially opening new avenues for risk transfer and investment in the insurance sector. While primarily a regional event, it could signal broader trends in alternative risk financing.
Investing.com -- Avla Seguros, Galapagos Capital, Tivio Capital and fintech Marvin raised 126 million reais ($25.07 million) through Brazil’s first insurance-linked security distributed to the open market, Avla said Tuesday.
The security targets professional investors and covers credit insurance operations for a major retail company. Avla said this is the fourth insurance-linked security issuance in Brazil, but the first available to the broader market.
Marvin acted as collateral agent and co-structurer of the transaction. Bernardo Vale, CEO of Marvin, said the deal is the first in a series of transactions the company plans to launch this year.
Bradesco Group’s alternative asset manager Tivio Capital served as asset manager and anchor investor for the transaction, while Avla Brasil led the process.
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