trending Market Intelligence /marketintelligence/en/news-insights/trending/r3Zk4ref-bY8kph24_kAOQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Caixa Econômica Federal to launch insurance unit IPO in April

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


Caixa Econômica Federal to launch insurance unit IPO in April

Brazil's Caixa Econômica Federal will launch an initial public offering for its Caixa Seguridade Participações SA insurance arm in April, Estadão reported Jan. 6.

Citing sources close to the state-run lender, Estadão reported that market expectations are for the operation to raise more than 11.5 billion reais, based on the precedent of Banco do Brasil SA's similar IPO of its insurance arm, BB Seguridade Participações SA, back in 2013.

Caixa, which had originally intended to go ahead with the IPO in 2019, estimates its unit will reach the IPO with a market value of between 50 billion and 60 billion reais, the report said.

Caixa Seguridade's offering would be the first by a state-run bank under Brazilian President Jair Bolsonaro's economic team, and the bank has confirmed an extensive roadshow calendar leading up to April.

In preparation for the IPO, Caixa is also close to signing a $1.5 billion home insurance joint venture deal with Japanese insurer Tokio Marine, Estadão also reported Jan. 6. The bank is looking to partner up and raise capital for other product lines including car, health and dental insurance.

"In 2020, we will focus fully on the IPO of Caixa Seguridade and Caixa Cards," CEO Pedro Guimarães said in a recent interview. The executive also confirmed Caixa will be selling its stake in Banco Pan SA, which he described as "nonstrategic."

As of Jan. 3, US$ 1 was equivalent to 4.04 Brazilian reais.