Brazilian insurance company Pan Seguros SA changed its name and corporate branding to Too Seguros, effective Dec. 17, Valor Econômico reported.

Company CEO Eduardo Domeque said the name change is part of a digital transformation process at the company, which has seen it replace digital systems and modernize operations. Domeque previously worked at Banco BTG Pactual SA and joined Pan Seguros two years earlier, according to the report. Over those two years, Pan Seguros had started replacing its systems.

Domeque said the new information technology structure contributed to financial results, with operating income growing 62% to 104.8 million Brazilian reais in 2018 from 64.7 million reais in 2017. Return on equity also grew, to 12.91% at the end of 2017 from 6.78% a year earlier.