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. 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.

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. 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. In the 1920s, the company began to offer other services such as Automobile and Personal Accident Insurance. In 1925, SulAmérica opened its new headquarters building, in the center of Rio de Janeiro. In 1969, SulAmérica went public and was traded on the Rio de Janeiro Stock Exchange. A year later, in 1970, SulAmérica began its health operations through post-payment plans. With the expansion of services in 1987 , SulAmérica began private pension operations, called SulAmérica Previdência Privada. In January 2019, SulAmérica installed vending machines selling travel insurance in the São Paulo–Guarulhos International Airport. In August 2019, SulAmérica Seguros sold its automobile insurance operations to

Allianz Allianz SE ( , ) is a German Multinational corporation, multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. Allianz is the world's largest List of largest insurance ...

for R$3 billion.

Description

The company operates in the

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

health Health has a variety of definitions, which have been used for different purposes over time. In general, it refers to physical and emotional well-being, especially that associated with normal functioning of the human body, absent of disease, p ...

automobiles A car, or an automobile, is a motor vehicle with wheels. Most definitions of cars state that they run primarily on roads, Car seat, seat one to eight people, have four wheels, and mainly transport private transport#Personal transport, peopl ...

, and other balance-sheet. The company's businesses are conducted through a broad and diversified distribution network, included more than 29,000 active

broker A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither ...

s, employers,

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

s and

strategic alliance A strategic alliance is an agreement between two or more Legal party, parties to pursue a set of agreed upon objectives needed while remaining independent organizations. The alliance is a cooperation or collaboration which aims for a synergy wh ...

s to sell its products with major financial institutions operating in Brazil, such as BV Financeira,

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

, Santander and Banco Safra.

References

Financial services companies of Brazil Companies based in Rio de Janeiro (state) Companies listed on B3 (stock exchange) Financial services companies established in 1895 Insurance companies of Brazil 1895 establishments in Brazil {{Brazil-company-stub