London-based Markel International has sold its Brazilian insurance operations to several of its executives.
The business's new owners are Markel International CEO for Latin America Carlos Caputo, Vice President Gabriel Boyer and Technical Director Rodrigo Motroni.
As of Oct. 1, the executives acquired all the shares of Markel Seguradora do Brasil SA and became the company's sole shareholders.
The company will change its name to NEWE Seguros, subject to ratification.
Markel International is a subsidiary of Markel Corp.
