Porto Seguro

What Porto Seguro does

Porto Seguro S.A. (B3: PSSA3) is a São Paulo-headquartered, publicly traded insurance and financial services conglomerate founded in 1945, operating through four integrated business verticals: Porto Seguro (P&C, life, residential, travel, cell phone, and business insurance), Porto Saúde (health, dental, and occupational health plans), Porto Bank (credit cards, loans, financing, consortiums, investments, and digital banking), and Porto Serviço (subscription assistance, 270+ automotive repair centers, ConectCar electronic mobility payments, and pet health via the Petlove partnership). The group serves 18 million unique clients across Brazil and Uruguay through a multi-channel distribution architecture comprising a 46,000-strong independent broker network, an exclusive 2009 distribution agreement with Itaú Unibanco (which holds a 30.4% stake in the controlling vehicle PSIUPAR), 100+ regional branches, and direct digital channels including website, mobile app, WhatsApp, and Apple Business Chat.

Revenue is generated primarily through recurring insurance premiums across auto, health, life, residential, and SME lines, supplemented by transaction-based banking fees, brokerage commissions, and subscription-based assistance and service packages (entry pricing R$299.98/month for bundled services; pet plans from R$14.90). The company employs more than 14,000 staff and engages an additional 13,000 service providers, with a controlling shareholder structure comprising the Garfinkel family (via Jayme Brasil Garfinkel at 57.07% of PSIUPAR) and Itaú Unibanco (42.93% of PSIUPAR), the latter granting exclusive distribution of auto and home products through Itaú's branch network.

Reported FY2024 revenue was R$37 billion with R$2.7 billion in net income, and 1T26 recurring net income of R$958.3 million indicates continued profitable growth. Recent strategic priorities include the proposed R$1 billion investment in Oncoclinicas to vertically integrate oncology care delivery through Porto Saúde, the ConectCar mobility payment integration, the introduction of subscription-based insurance products to expand the uninsured customer base, and ongoing leadership renewal including the January 2024 appointment of Paulo Sérgio Kakinoff (former GOL and Audi Brazil executive) as CEO.

Name

Porto Seguro

Legal name

Porto Seguro Companhia de Seguros Gerais

Website

https://portoseguro.com.br

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Porto Seguro is a publicly traded Brazilian insurance and financial services conglomerate serving 18 million clients through four verticals — insurance, healthcare (Porto Saúde), digital banking (Porto Bank), and assistance services (Porto Serviço) — distributed via 46,000 independent brokers and an exclusive Itaú Unibanco partnership.

Ownership category

akta.pro rank

Product category

Multi-line Insurance and Financial Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Finance and Insurance (52), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Individual Health Insurance Administration (TPA/ASO) (FSAIAEAK)

Keywords

• Insurance services
• Auto insurance
• Health insurance
• Banking services
• Financial products

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Insurance Premiums: Core insurance business generating revenue from auto, home, health, life, travel, and business insurance policies through premium collections
2. Porto Bank Financial Services: Banking revenues from credit cards, loans, financing, investment management, and capitalization products through Porto Bank S.A.
3. Healthcare Services: Health insurance and occupational health services through Porto Saúde vertical
4. Assistance Services: Subscription-based assistance services for automobiles and homes (Porto Serviço), automotive centers, and vehicle maintenance services
5. Broker and Distribution Fees: Commission income from insurance distribution through broker network and partnership channels

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Porto Seguro operates an integrated insurance, healthcare, banking, and assistance services ecosystem organized into four business verticals: Porto Seguro (insurance), Porto Saúde (health), Porto Bank (banking), and Porto Serviço (services). The company sells auto, life, residential, health, travel, cell phone, dental, and business insurance products; credit cards, loans, financing, consortiums, and investment products through Porto Bank; occupational health and corporate wellness services; and automotive repair and home assistance through its network of 270+ service centers.

Product overview

Porto Seguro is a comprehensive financial services ecosystem organized into four business verticals: Porto Seguro (Insurance), Porto Saúde (Healthcare), Porto Bank (Banking), and Porto Serviço (Services). The company offers a wide portfolio including auto insurance, life insurance, health insurance, residential insurance, travel insurance, dental insurance, cell phone insurance, credit cards, loans, financing, consortiums, investment platforms, and automotive services. The ecosystem also includes sub-brands like Azul Seguros, Itaú Seguros de Auto e Residência, and Porto Seguro Uruguay, as well as acquired services like ConectCar (electronic toll payments) and Porto.Pet (veterinary services). Porto operates over 270 automotive centers and maintains an innovation program through Oxigênio Aceleradora. The company serves 18 million unique clients across Brazil with 14,000 employees and 46,000 independent brokers.

Differentiator

Problem solved

Functional benefit

Brands

• Azul por Assinatura: Subscription-based auto insurance offering with more affordable prices and potential to expand the market by reaching clients who do not yet have auto insurance.
• Auto Fácil Itaú
• Aluguel Essencial
• Porto Resolve
• Oxigênio Aceleradora
• Porto Asset
• Porto.Pet

Products and services

• Seguro Auto Auto insurance protecting vehicles with 24-hour assistance, coverage for damages, theft, and accidents, with service network of over 270 automotive centers. Targets individual vehicle owners.
• Seguro Vida

Quantifiable outcome

• 18 million unique clients served
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Oncoclinicas do BrasilcoreStrategic or Co-development Partner · 15 March 2026Porto disclosed studying potential R$1 billion investment in Oncoclinicas. Proposed transaction would involve separating ~200 clinics into a subsidiary for Porto Saúde to acquire a stake, offering comprehensive cancer care model.
• PetloveminorStrategic or Co-development Partner · 1 January 2022Transaction with Petlove involving transfer of Porto.Pet (veterinary medicine services) to create comprehensive pet health platform.
• Grupo UltraminorOthers · 28 June 2021Grupo Ultra sold its 50% stake in ConectCar to Porto Seguro as part of the acquisition transaction valued at R$165 million.
• ConectCar (Grupo Ultra)coreStrategic or Co-development Partner · 25 June 2021Acquisition of 50% stake in ConectCar from Grupo Ultra for R$165 million. ConectCar provides automated electronic payment solutions for tolls, parking, drive-thrus and other services through tag-based systems, enhancing Porto's mobility services ecosystem.
• CDF (Porto Assistência Merger)minorStrategic or Co-development Partner · 1 January 2021Merger of Porto Assistência with CDF, a B2B assistance company with major market players as clients, strengthening assistance services business.
• Mitsui SumitomominorChannel Partner/ Reseller/ Distributor · 1 January 2020Coinsurance agreement covering auto, residential and small/medium enterprise insurance products, expanding product distribution.
• Itaú Unibanco Holding S.A.coreStrategic or Co-development Partner · 1 January 2009Strategic partnership since 2009 for business combination of home and auto insurance operations. Porto obtained exclusivity to offer and distribute products through Itaú's sales channels. Controlling block composed of Garfinkel family (40.4%) and Itaú Unibanco (30.4%).

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MAPFRE Brasil: Spanish-owned Brazilian insurer offering auto, home, life, and business insurance through broker networks. Directly comparable to Porto in product mix, broker-led distribution model, and Brazilian market focus.
• HDI Seguros: German-owned Brazilian insurer focused on auto and business insurance with strong broker relationships. Directly comparable as a multi-line P&C carrier operating in the same distribution channels as Porto.
• Bradesco Seguros: Insurance arm of Banco Bradesco offering life, health, auto, and property coverage through captive bank distribution. Comparable integrated insurance model with significant scale in Brazilian market.
• Tokio Marine Seguradora: Japanese-owned Brazilian insurer with strong auto and property/casualty presence. Comparable to Porto in product breadth and broker-driven distribution across Brazil.
• SulAmérica: One of Brazil's largest independent insurance and health companies, offering auto, life, health, and dental coverage with strong broker distribution. SulAmérica is the most direct competitor to Porto Seguro's core insurance vertical and a comparable multi-line insurance carrier.

Broad incumbents

• Chubb Limited: Global P&C and life insurer with significant Latin American presence including Brazil. Comparable diversified insurance carrier operating across personal and commercial lines.
• Banco do Brasil: Brazilian state-controlled bank with significant insurance and financial services operations through BB Seguros. Comparable as a broad financial services incumbent with overlapping insurance products.
• Itaú Unibanco: Brazil's largest private bank and Porto's strategic partner/distribution channel since 2009. Itaú offers overlapping banking and insurance products but at much larger scale and broader scope than Porto.
• Zurich Insurance Group: Global multi-line insurer with Brazilian operations. Comparable as an established multi-line insurance carrier with diversified product portfolio and broker distribution.

Emerging players

• Banco Inter: Brazilian digital-first bank offering credit, insurance, and investment products with a strong digital focus. Represents the emerging digital-native competitive threat to Porto's traditional broker-led model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/portoseguro
• YouTubeyoutube.com/portoseguro
• Facebookfacebook.com/portoseguro
• LinkedInlinkedin.com/company/porto-seguro
• Instagraminstagram.com/porto

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries23 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Porto Seguro