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Porto Seguro ventures into investment business

Brazil's Porto Seguro SA stepped into the investment market through a new platform called Conquista, the country's insurance and reinsurance companies union SindsegSP reported, citing a report by Valor Econômico.

The new platform will offer financing, insurance, credit card, pension and investment services. The platform will be open only to Porto Seguro employees before its official launch Oct. 7.

The head of investment relations at Porto Seguro, Marcelo Picanço, said the investment and pension segment is open and includes 60 funds from 20 managers. The executive added that the company increased its funding fivefold to launch the platform.