The company recorded insufficient assets and risk management structure that could meet the commitments made with policyholders and policyholders
The Private Insurance Superintendency (Susep) decreed the extrajudicial liquidation of Seguradora Infinitein a measure that arises from the “confirmation of serious deterioration” in the company’s economic situation. The decision was confirmed in an ordinance published in the Official Gazette of the Union this Tuesday, 19.
According to Susep, the company registered insufficient equity and risk management structure that could meet the commitments made with policyholders and policyholders.
On its official website, Infinite describes itself as an insurance company with expertise in guarantee insurance, which ensures compliance with a contractual or judicial obligation, indemnifying the beneficiary if necessary.
The company now joins a small list of corporations in the sector that have had extrajudicial liquidation ordered by Susep – the last one was Nobre Seguradora, in October 2016, almost ten years ago.
With the action, the guarantees issued by the insurance company will no longer be considered suitable as of this Tuesday and must be replaced by valid instruments from other organizations with adequate financial capacity.
The entity had been investigating the case in an inspection process over the last few months. During the period, it identified “material inconsistencies” in the insurer’s accounting information. In response, the agency took preventive, corrective and sanctioning actions, such as initiating administrative proceedings and conducting inspections.
“However, the measures adopted by the supervised body based on the supervisory measures were not sufficient to reverse the identified situation”, states Susep.
In the statement, the superintendence advises policyholders and the Judiciary to evaluate with “due urgency” the replacement of guarantees linked to the insurer.
Credits relating to compensation for claims that occurred up until yesterday and prize refunds may be received by customers after the publication of the definitive version of the general list of creditors.
Susep also clarifies that the measure does not have systemic implications. “The Brazilian insurance market remains solid, capitalized and fully capable of absorbing the replacement of guarantees currently linked to the liquidated company”, highlights
