The agreement enables brokers to access higher limits for complex risks and expanded coverage options across property, casualty, professional indemnity and directors and officers lines.
The partnership comes as Brazil's corporate insurance market grapples with growing exposures from large-scale projects. The country's infrastructure sector is projected to reach $550 billion by 2030, research from Makreo shows, while utility-scale solar and wind projects, battery energy storage systems and transmission infrastructure expansion are driving demand for specialized coverage.
Industry analysts note that Brazil's infrastructure projects require comprehensive insurance programs covering construction, operational and third-party liabilities, including performance bonds and engineering wrap guarantees.
The energy sector presents additional complexity. Hydrological risks – extreme rainfall, flooding and droughts that damage infrastructure and threaten electricity generation – pose significant challenges given Brazil's dependence on hydropower, according to findings from the One Billion Resilient initiative.
Recent project financings underscore the scale of risks involved. The BR-163 highway concession alone attracted 5.35 billion reais in financing, Latin Finance reported, while large-scale green hydrogen hubs are under development across the country.
DUAL Brazil and SCOR structured the arrangement to address market demand for corporate insurance solutions in the region. The agreement combines DUAL's regional operations with SCOR's experience in managing general agent partnerships.
"Our partnership with SCOR reinforces our commitment to delivering capacity, agility and technical excellence to the Brazilian market," said Francisco Vogt Marques, managing director of DUAL Brazil. He noted that DUAL works with its subsidiaries and carriers to provide solutions tailored to local market requirements.
The partnership expands the range of solutions available to brokers serving corporate clients. Brazil recorded 1,426 M&A transactions in 2024, data from Kroll indicates, with active sectors including technology, financial services, energy and healthcare – all requiring sophisticated insurance programs for multinational operations.
DUAL described the collaboration as part of its strategy to strengthen its presence in the Brazilian market, providing brokers with additional capacity options and technical resources for their corporate client base.
