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Brazil's BR Insurance fully acquires life insurance broker Capilano Corretora

BR Insurance Corretora de Seguros SA, recently renamed as Alper, completed the acquisition of 100% of Capilano Corretora de Seguros de Vida.

According to the insurance brokerage company, Capilano is expected to commercialize around 24 million reais in premiums during 2018 and manages a portfolio of 18,000 beneficiaries.

"The acquisition is in line with the company's long-term strategy and complements its portfolio of benefits," Alper said in a filing.

As of Dec. 13, US$1 was equivalent to 3.89 reais.