Our partner Roberto Panucci was featured in a BPMoney article on the extrajudicial liquidation of Infinite Seguradora, ordered yesterday by SUSEP - Superintendência de Seguros Privados.
"Quando os dados apresentados ao regulador não refletem a realidade da companhia, a supervisão deixa de ser preventiva e passa a atuar de forma reativa. Em um mercado regulado, transparência informacional não é uma formalidade burocrática, mas uma condição estrutural de funcionamento." [When the data presented to the regulator does not reflect the company's reality, supervision stops being preventive and becomes reactive. In a regulated market, information transparency is not a bureaucratic formality but a structural condition for operating.]
The measure, formalized by Ordinance No. 8,549/2026, was not an abrupt intervention. It followed months of progressive supervision, preventive measures, capital restoration requirements and product suspensions. Opportunities for correction existed and were not taken.
The case goes beyond a capital issue. Susep itself explicitly identified failures in the risk management structure and inconsistencies in the accounting information and the information provided to supervision. These are distinct failure vectors, and the second is structurally more serious: without reliable information, the regulator loses the ability to act before the problem becomes irreversible.
The message applies to all companies authorized by Susep: maintaining capital and liquidity are necessary conditions; providing timely and accurate information is a permanent obligation. Together, they are what allow a company to keep operating in the regulated market.
The full article is available at: https://lnkd.in/dEcZhyNe
