Brasil Insurance
In 2008 Gulf started to study the insurance brokerage segment, in which it had identified a large opportunity for value creation resulting from consolidation. The industry was highly fragmented, so consolidation would create economies of scale in trading and reduce operational costs, besides offering the possibility of cross-selling between and among the brokerage firms.
From the acquisition of 27 insurance brokers, Gulf created the Brasil Insurance, which went public on BM&FBovespa stock market in November 2010.
Today, Brazil Insurance is the largest and most diversified insurance broker in Brazil, comprising 43 companies and has presence in 10 Brazilian States.