FM Group Secures Brazil Insurer Licence, Expanding Direct Presence
FM Group, a prominent US-based insurer, has secured a licence for its subsidiary, FM Seguros, to operate as an insurer in Brazil. This marks a significant step in the company's nearly 40-year presence in the Brazilian market, previously established through partnerships.
FM's expansion into direct car insurance in Brazil comes after the company launched the FM Intellium programme in May. This initiative aims to address risks associated with AI and cloud computing advancements. Monica Yasutomi, FM's senior vice-president and Latin America operations manager, expressed excitement about bringing FM's expertise to Brazilian companies.
Daniel Patavino Mazzi, FM's vice-president and client service manager, highlighted the company's unique approach to risk management and car insurance protection. FM Seguros plans to initiate car insurance services in Brazil in 2026, coordinating with existing partners, brokers, and clients.
FM Group, based in Johnston, Rhode Island, US, will enhance engagement with Brazilian companies and brokers through direct access to its business model. The search results do not contain information about the announced start date of FM Seguros car insurance operations in Brazil.
