SulAmerica Seguros e Previdencia Joins the List of the Largest Companies in the World, According to Forbes Magazine
RIO DE JANEIRO, April 27 /PRNewswire-FirstCall/ -- SulAmerica Seguros e Previdencia has entered the list of the largest companies in the world for the first time, according to a survey prepared by Forbes Magazine. The company was ranked in the 1,813th position and is the only insurance company in Latin America on the list, which takes into consideration sales, profit, assets and market value.
The company, which went public in October 2007, has been setting a series of revenue and profit records in recent years. In 2009, insurance premium revenues rose 12.4%, surpassing the record mark of R$ 8.5 million, while net income rose to more than R$ 419 million. "The insertion of the company into the list is a reflection of great effort, the sales force of insurance brokers and the company's commitment to offer innovative products and services to policyholders," stated the president of the insurance company, Thomaz Cabral de Menezes. "Being the only insurance company on this list also demonstrates the prominence of the company in the market and our new posture regarding sustainable development, focused on shareholder returns," the executive said.
Some 2,000 private companies from around the world are on the complete Forbes list. In comparison with last year, the presence of Brazil on the list of the largest companies grew in 2010. The number of Brazilian companies on the list went from 31 to 33, and among the 100 largest companies on the planet there are now five Brazilians corporations, compared to three last year. For the chairman of the SulAmerica Board of Directors, Patrick Larragoiti Lucas, the economic stability the country has experienced has encouraged the development of domestic companies and attracted the attention of investors from around the world. "Brazil has been seen as a generator of excellent business opportunities in many different sectors, including insurance," said Patrick. "SulAmerica has followed this movement and taken advantage of the good opportunities," he added.
About SulAmerica: Sul America S.A., the holding company for the financial conglomerate active in insurance, private pension and asset management segments, shares are traded on the Corporate Governance Level II of the BM&FBovespa. With a 114-year history of activities in Brazil, the company closed year 2009 with assets totaling R$ 12.4 billion.
SOURCE SulAmerica
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