by Rachel Hall
Brazilian firms Demarest e Almeida Advogados and TozziniFreire Advogados have helped private pension company Brasilprev Seguros e Previdência and its parent, US-based Principal Financial Services Group, acquire personal insurance provider Mapfre Nossa Caixa Vida e Previdência.
Azevedo Sette Advogados provided counsel to Mapfre Nossa Caixa for the deal, which was of undisclosed value and closed on 1 August.
Brasilprev Seguros e Previdência is a joint venture between Principal Financial and BB Seguros, a subsidiary of state-owned Banco do Brasil, which relied on in-house counsel for this deal.
Azevedo Sette helped Spanish insurer Mapfre merge its Brazilian arm with Banco do Brasil’s insurance division in 2010, a deal in which the state-owned bank turned to Velloza & Girotto Advogados Associados.
In the same year, TozziniFreire and Velloza & Girotto worked on the restructuring of the Brasilprev joint venture, with TozziniFreire having worked with Principal since the group bought SulAmérica’s interest in Brasilprev in 1998.
Counsel to Principal Financial Services Group
TozziniFreire Advogados
Partner Marcio Mello Silva Baptista and associates Maria Beatriz Bueno Siqueira Nunes Kowalewski and Jacques Abi Ghosn
Counsel to Brasilprev Seguros e Previdência
In-house counsel – Ana Paula Makhoul Sabbag
Demarest e Almeida Advogados
Partners João Marcelo Máximo dos Santos and André Alarcon, and associate Beatriz Nogueira Buchaim
Counsel to Banco do Brasil
In-house counsel – Sandro Nunes
Counsel to Mapfre Nossa Caixa
In-house counsel – Simone Pereira Negrão
Azevedo Sette Advogados
Partner Joyl Gondim de Alencar Filho and associates Hector Pereira Santos and Cesar Aguiar
