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Brazil’s Wiz to invest US$116 million in joint venture with BRB

RIO DE JANEIRO, BRAZIL - Wiz Soluções has signed a contract to offer over-the-counter insurance products at Banco de Brasília (BRB). The agreement had been disclosed in April, but at the time the amount had not been revealed.

The two companies will create a new company for trading insurance, consortia, capitalization bonds, and private pension plans, with exclusivity for 20 years. It will consist of an omni-channel operation: in the bank's distribution channels, through banking correspondents, partner network agents, remote and digital operations.

Now Wiz announced it will invest approximately R$585 (US$116) million . . .

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