Pinheiro Neto Advogados has helped Santander enter a joint venture with Brazilian insurance company HDI Seguros that will offer car buyers insurance policies alongside vehicle finance options over a digital platform.
HDI hired Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados.
The deal closed on 9 October. Santander and HDI will have a 50/50 joint stake in the business.
Santander is the top provider of car financing deals in Brazil. The joint venture means HDI's car insurance policies will be offered alongside Santander's auto financing plans when consumers buy a vehicle. An online platform will be used to ask six questions which determine how the insurance policy's value is calculated. This offering will be sold under Santander's Santander Auto branding, but still needs approval from Brazil's private insurance regulator to become operational.
Councel to Santander
Pinheiro Neto Advogados
Partner José Luiz Homem de Mello, and associates Raphael Salomão, Roberto Panucci and Mariana Magalhães Lobato
Counsel to HDI
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Thomaz del Castillo Barroso Kastrup, and associates Karen Schiavon, Mary Hamasaki and Beatriz Perez