CAIXA Seguridade was incorporated on May 21, 2015, as a wholly-owned subsidiary of CAIXA, with the purpose of consolidating, under a single company, all CAIXA’s activities in the insurance, premium bonds (“capitalização”), private pension plans, credit letters (“consórcio”), brokerage and related activities, including any future expansions of these activities, whether in Brazil or abroad, whether organic or not, providing gains in scale in these activities and in their operations and achieving reductions in costs and expenses in the security segment.

On April 29, 2021, CAIXA Seguridade concluded its public offering of shares in B3 and was listed on the Novo Mercado segment under the ticker CXSE3. The Offer financial volume totaled  BRL 5.0 billion, considering the Base Offer (450 million shares) and the Supplementary Lot (67.5 million shares). Keeping control of CAIXA, the Company now has 17.25% of  shares in Free-Float, represented by 108,973 shareholders, of which 107,586 are individuals.

With a history of more than 150 years, CAIXA began to operate in the insurance market in 1967 with the foundation of the entity that would later become CAIXA Seguradora. In the beginning, between the 1970s and 1980s, the Brazilian insurance industry showed modest growth, influenced by the economic conditions of the period and by a culture still not very attentive to insurance protection.

Since the 1990s, changes in the sector’s regulation have allowed insurance companies to have greater freedom in structuring their products. These changes allowed the entry of foreign companies, bringing the experience of more consolidated markets in the security segment. In this context, CAIXA established in 2001 a partnership with the French CNP Assurances with a term of 20 years, a specialist in insurance for more than 150 years and a French market leader in this business, holding the fourth place in life insurance in Europe.

With the end of this agreement approaching, Caixa Seguridade started studies in 2017 for the reorganization of its partnerships, focusing on the search for specialized partners for each of the blocks of insurance products designed in the new strategy. This process resulted in the signing of new association agreements, initiated in 2021: (i) with CNP Assurances, for a period of 25 years, for the exploration of life insurance, credit life and pension plans; (ii) with Tokio Marine, for 20 years, for mortgage and homeowner insurance; (iii) with Icatu, for 20 years, for the premium bonds segment; (iv) with CNP Assurances, for 20 years, in credit letter ; and (v) Assistance Services with Tempo Assist, also for the next 20 years.


Corporate Profile

The holding company CAIXA Seguridade Participações S.A., controlled by CAIXA, develops and implements the commercial strategy for the sale of the insurance products at CAIXA, the largest Brazilian bank in terms of deposits and loans and one of the largest in terms of distribution capacity, with more than 4 thousand branches and service stations, more than 13 thousand lottery outlets and almost 9 thousand correspondents banking.

CAIXA Seguridade operation offers a wide range of life and non-life insurance policies, as well as private pension plans, premium bonds (“capitalização”) and credit letters (“consórcios”). It also has as important revenue, revenue from brokerage and distribution and use of CAIXA brand, paid by insurance companies for the sale of their products at CAIXA branches and banking correspondents.

CAIXA Seguridade also participates in the results of the administration and intermediation of the insurance products sold in Banco PAN’s distribution network, through Too Seguros, the new brand of PAN Seguros, and PAN Corretora.

The insurance segment of CAIXA is the fastest growing bancassurance operation in Brazil. The platform is today Brazil’s third-largest insurer, and has significantly increased its share in the insurance market in recent years, and leader of mortgage insurance segment, with a market share of more than 60%.