BTG Pactual, a major global investment bank and asset manager headquartered in Brazil, has established an insurance-linked securities (ILS) structure named BTG Pactual Sociedade Seguradora de Propósito Específico S.A. (BTG Pactual SSPE) to issue Letras de Risco de Seguro (Insurance Risk Letters), Brazil’s own-brand of ILS instrument.
BTG Pactual becomes the fourth owner of an SSPE structure in Brazil, through which it can issue and facilitate issuance of Letras de Risco de Seguro (LRS).
The investment bank is well-known in the reinsurance space, having invested in a number of ventures through its asset management arm, while also providing services to insurers and reinsurers across Latin America and in other locations worldwide.
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