SulAmérica Seguros

Brazilian insurance company

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Sul América S.A.

Company type	Sociedade Anônima
Traded as	B3: SULA3, SULA4, SULA11
Industry	Financial services
Founded	December 5, 1895; 128 years ago (1895-12-05)
Headquarters	Rio de Janeiro, Brazil
Key people	Patrick Antonio Claude de Larragoiti Lucas (Chairman)^[1]^[2] Ricardo Bottas (CEO)^[1]^[2]
Services	Insurance
Revenue	R$ 21.0 billion (2021)^[3]
Net income	R$ 332.5 million (2021)^[3]
Total assets	R$ 48.3 billion (2021)^[3]
Number of employees	4,176 (2021)^[4]
Website	sulamerica.com.br

SulAmérica is the second largest Brazilian insurance company with more than 7 million customers and a distribution network of more than 30,000 independent brokers.^[4] SulAmérica Seguros operates in several lines of insurance, such as health and dental, automobile and other basic lines, life, as well as other segments, such as private pension, investments and capitalization. The company was founded in 1895 and is controlled by the Larragoiti Family.^[5]

History

Sul América Companhia Nacional de Seguros de Vida was founded in December 1895 by entrepreneur D. Joaquim Sanchez de Larragoiti, who operated in the life insurance segment in the Brazilian market.^[6]

In 1918 , the company launched Insurance for Partners, Employers and Employees, the first group life insurance service in the Brazilian market. SulAmérica magazine was launched two years later.^[7] In the 1920s, the company began to offer other services such as Automobile and Personal Accident Insurance.^[8]

In 1925, SulAmérica opened its new headquarters building, in the center of Rio de Janeiro.^[7]^[9]

In 1969, SulAmérica went public and was traded on the Rio de Janeiro Stock Exchange.^[7] A year later, in 1970, SulAmérica began its health operations through post-payment plans.^[7]

With the expansion of services in 1987 , SulAmérica began private pension operations, called SulAmérica Previdência Privada.^[7]

In January 2019, SulAmérica installed vending machines selling travel insurance in the São Paulo–Guarulhos International Airport.^[10] In August 2019, SulAmérica Seguros sold its automobile insurance operations to Allianz for R$3 billion.^[11]

Description

The company operates in the life insurance, health, automobiles, and other balance-sheet. The company's businesses are conducted through a broad and diversified distribution network, included more than 29,000 active brokers, employers, joint ventures and strategic alliances to sell its products with major financial institutions operating in Brazil, such as BV Financeira, HSBC, Santander and Banco Safra.

References

^ ^a ^b "Institutional | Corporate Governance". SulAmérica IR. Retrieved July 27, 2022.
^ ^a ^b "Pressroom | SulAmérica Executives" (in Brazilian Portuguese). SulAmérica. Retrieved July 27, 2022.
^ ^a ^b ^c "2021 Earnings Results". SulAmérica IR. February 24, 2022. pp. 1, 7, 14, 17, 36. Retrieved July 27, 2022.
^ ^a ^b "2021 Annual Report" (PDF) (in Brazilian Portuguese). SulAmérica IR. pp. 15, 25, 83, 86. Retrieved July 27, 2022.
^ ""Site de Relações com Investidores"". "SulAmérica". Retrieved 13 July 2016.
^ ""A retomada da Sulamérica"". IstoÉ Dinheiro. Retrieved 4 May 2016.
^ ^a ^b ^c ^d ^e ""História SulAmérica Saúde"". Plano de Saúde. Retrieved 4 May 2016.
^ ""Seguradoras da Mondini Seguros"". Mondini Seguros. Retrieved 4 May 2016.
^ ""O fomento ao setor hoteleiro, na década de 1920"". Jornal GGN. Retrieved 4 May 2016.
^ "SulAmerica implanta totens em Cumbica para venda de seguro viagem". Diário do Turismo (in Brazilian Portuguese). 2019-01-08. Retrieved 2019-09-03.
^ "SulAmérica vende operação de automóveis para Allianz por R$ 3 bi - Economia". Estadão (in Brazilian Portuguese). Retrieved 2019-09-03.