Our Partner Roberto Panucci was featured in BPMoney's article on the extrajudicial liquidation of Infinite Seguradora, ordered yesterday by SUSEP (Superintendência de Seguros Privados, the Brazilian Private Insurance Superintendence).
“When the data presented to the regulator does not reflect the company's reality, supervision ceases to be preventive and becomes reactive. In a regulated market, informational 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 oversight, preventive measures, capital restoration requirements and product suspensions. Opportunities for correction existed and were not taken.
The case goes beyond a question of capital. Susep itself explicitly identified flaws in the risk management structure and inconsistencies in the accounting information and in the information provided to the supervisor. These are distinct vectors of failure, 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, the two are what allow a company to continue operating in the regulated market.
The full article is available at: https://bpmoney.com.br/mercado/caso-infinite-pressiona-setor-de-seguros-por-mais-governanca-e-transparencia/
