MDS Brazil to broaden with life and pensions dealer acquisition

MDS Brazil, a reinsurance dealer subsidiary of Ardonagh-owned MDS Group, has introduced its intention to amass D’Or Consultoria, a dealer specializing in well being, dental, life insurance coverage, and pensions from Rede D’Or Sao Luiz.

The transaction, valued at R$800 million ($123 million), is topic to approval by the Administrative Council for Financial Protection (CADE) and different regulatory approvals. Ardonagh plans to fund the acquisition by the group’s out there liquidity.

Upon completion, Ariel Couto, CEO of MDS Brazil, will lead the mixed operation. The chief crew of D’Or Consultoria, led by CEO Bruno Iannuzzi, will stay with the corporate to make sure continuity of service and continued enterprise progress.

At present, MDS Brazil manages roughly R$4 billion ($0.62 billion) in premiums. With the acquisition of D’Or Consultoria, MDS Brazil is ready for a serious enlargement within the company advantages phase.

D’Or Consultoria, in the meantime, serves about 2.5 million customers with its well being plan portfolio. The mixed entity will handle greater than R$8 billion ($1.3 billion) in gross written premiums, positioning it as one of many largest brokers in Brazil, targeted on threat administration and consultancy. Till regulatory approval is granted, each corporations will proceed to function independently.

This acquisition is a part of MDS’ enlargement technique in Brazil and Latin America, including to 12 acquisitions in Brazil and one in Chile over the previous 5 years.

Jose Manuel Fonseca, CEO of MDS Group, acknowledged that he’s excited to welcome the D’Or crew, noting their business experience and dedication to service.

“Their deep business data and dedication to service excellence mixed with the size of MDS globally will unlock many new alternatives to ship worth to our prospects in Brazil,” he stated.

Ariel Couto, CEO of MDS Brazil, stated the transaction strengthens their regional technique and enhances their presence within the Latin American market with superior options tailor-made to shopper wants.

“The arrival of D’Or’s skilled management crew and proprietary know-how will considerably elevate our advantages and well being proposition. Drawing on their legacy out there and mixing it with our personal, MDS is poised to solidify our place as one of many main brokers in Brazil and Latam,” Couto stated.

Bruno Iannuzzi, CEO of D’Or Consultoria, additionally expressed pleasure concerning the new chapter for D’Or, believing it would present long-term worth for workers, prospects, and companions.

“The transaction will enable for a differentiated and extra full providing to our purchasers and market typically, whereas contributing for the event of the financial system and the society of 1 the largest economies and insurance coverage markets on the earth,” Iannuzzi stated.

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