Brazilian Government aims to double railways by 30%

The share of railways in the total transportation in Brazil should reach more than 30% in up to eight years. This is the federal government’s plan. Currently, the railroad mode accounts for 15% of the Brazilian transport ecosystem. The Ministry of Infrastructure argued that the achievement of this goal should be guaranteed from the railroad concessions already planned.

Source: Agencia Brasil

Allianz concludes purchase of SulAmérica operations for $ 615 mm

Allianz announced the conclusion of the acquisition of SulAmerica’s car insurance operations and essential branches for R$ 3.2 billion ($ 615 mm). According to the German company, after the acquisition it becomes the second largest car insurance company. With the merger, Allianz projects a total turnover of R$ 7 billion ($ 1.3 bn) in 2020, compared to R$ 3.3 billion ($ 634 mm) last year.

Source: Folha