Brazil's Central Bank cleared PicPay's insurance acquisition of Kovr, an insurer formerly tied to the liquidated Banco Master, expanding PicPay's platform.
Brazil · Companies
Key Facts
—Acquirer PicPay, a Brazilian digital wallet and digital bank controlled by the J&F Group, serving over 68 million clients.
—Target Kovr, an insurer with lines in insurance, capitalization, private pension plans, and insurance brokerage via Estrutural Corretora.
—Regulatory Step Brazil’s Central Bank approved the acquisition in July 2026, though final closing conditions and other sectoral approvals are still pending.
PicPay recebe aprovação do BC para compra da seguradora Kovr, que pertencia ao Master
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