IT’sSEG

IT’sSEG Image

Region

Latin America

Country

Brazil

Deal type

Buy and build

Investment date

2014

Status date

Current

Bringing insurance services to more Brazilians

The Brazilian insurance brokerage sector offers enormous potential for growth and consolidation, with low insurance penetration rates and high fragmentation in the distribution market. We believe a clear opportunity exists for a scale business to be successful in bringing insurance services to an increasing number of Brazilians.

Actis committed US$100m in November 2014 to create IT’sSEG, a new buy-and-build insurance brokerage platform in Brazil, partnering with Thomaz Menezes, former CEO of Marsh Latin America who is a shareholder and acts as CEO of the platform.

IT’sSEG acquired three existing companies with strong brands in the market and over 20 years of experience: Torres Benefícios: a corporate benefits broker, Barela: a retail-focused benefits broker and Raduan – which covers both corporate and retail benefits insurance distribution. IT’sSEG, which aims to acquire additional businesses in due course, is initially focusing on the benefits market for corporate, medium and small businesses, including products such as corporate employee health plans.

IT’sSEG offers a differentiated service proposition, including a full integrated back office and a service-orientated business. Our aim is for IT’sSEG to become the best insurance brokering offering in Brazil, providing a range of high quality products and services to Brazilian corporate and retail customers.