Porto Seguro Serviços e Comércio S.A.

What Porto Seguro Serviços e Comércio S.A. does

Porto Seguro Serviços e Comércio S.A. is a publicly traded Brazilian financial protection and services conglomerate headquartered in São Paulo, listed on the B3 Novo Mercado segment under ticker PSSA3 since 2004. Founded in 1945 and controlled since 1972 by the Garfinkel family, Porto reported FY2024 revenue of R$ 37 billion and net income of R$ 2.7 billion, with recurring 1Q26 net income of R$ 958.3 million. It serves approximately 18 million unique clients in Brazil (plus a Uruguay subsidiary) through four operating verticals: Porto Seguro (property and casualty insurance including auto, home, and bundled products via the Azul Seguros and Itaú Seguros de Auto e Residência brands), Porto Saúde (health and dental insurance), Porto Bank (banking, credit, financing, capitalization, consortium, and securities distribution), and Porto Serviço (automobile and home assistance, including the ConectCar mobility tag business).

The company's distribution is anchored by a network of 46,000 independent insurance brokers and an exclusive arrangement with Itaú Unibanco that grants Porto access to sell home and auto insurance through Itaú's branch and digital banking channels under the 2009 strategic partnership, supplemented by direct service centers and the cliente.portoseguro.com.br self-serve portal. Underwriting, claims, and service operations are supported by a 13,000-strong service provider network and 14,000 employees. Recent product launches include subscription-based auto insurance products Azul por Assinatura and Auto Fácil Itaú (2023), the digital rental guarantee Aluguel Essencial (2022), and a partnership with Oncoclínicas for cancer care within Porto Saúde.

The revenue model is primarily subscription- and recurring-premium-based across insurance, healthcare, banking, and capitalization lines, complemented by transaction-fee income from Porto Bank and ConectCar. Pricing is quote-based and not publicly disclosed. Porto completed multiple tuck-in M&A and partnership moves around Segfy (broker technology), ConectCar (mobility), Unigás (gas-heating assistance), and the Porto Assistência–CDF merger, alongside the divestiture of Porto.Pet to Petlove. Portoseg S.A. was upgraded to a Fitch AAA(bra) long-term national rating in December 2025, reflecting the group's financial strength.

Name

Porto Seguro Serviços e Comércio S.A.

Legal name

Porto Seguro Serviços e Comércio S.A.

Website

https://ri.portoseguro.com.br

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

1–10 employees

Short description

Porto Seguro is a publicly traded Brazilian financial protection conglomerate operating Porto Seguro (insurance), Porto Saúde (health), Porto Bank (banking), and Porto Serviço (assistance) across 18 million clients, distributed via 46,000 independent brokers and an exclusive partnership with Itaú Unibanco.

Ownership category

akta.pro rank

Product category

Insurance and Financial Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Direct Life, Health, and Medical Insurance Carriers (52411), Finance and Insurance (52)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Individual Health Insurance Brokerage & Distribution (FSAIAEAL)

akta.pro secondary industries

Individual Health Insurance Administration (TPA/ASO) (FSAIAEAK), International/Expatriate Individual Health Insurance (FSAIAEAH)

Keywords

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

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Property and casualty insurance including auto, home, and other lines through Porto Seguro, Azul Seguros, and Itaú Seguros brands. Subscription-based insurance products like Azul por Assinatura and Auto Fácil Itaú offer more affordable options for market expansion.
2. Healthcare Plans: Health insurance plans through Porto Saúde, offering innovative health plans with selective high-quality networks and attractive pricing. Includes dental services through Porto Seguro Serviços Odontológicas.
3. Banking Services: Porto Bank provides financial services including credit, financing, investment, and consortium management. Also includes ConectCar automatic payment solutions for tolls, parking, and drive-thrus.
4. Assistance Services: Porto Serviço provides automobile and home assistance services in B2C model and strategic B2B2C partnerships. Includes automotive service centers, emergency road service, and home assistance.
5. Capitalization Products: Porto Seguro Capitalização offers savings and prize-linked savings products.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels3 records

Core offering

Porto Seguro is a Brazilian insurance and financial services conglomerate that operates across four business verticals: property and casualty insurance (auto, home, and bundled products), health insurance, banking and financial services (credit, financing, investment, consortium), and automobile and home assistance services. The company distributes its products through 46,000 independent brokers, exclusive channels at Itaú Unibanco, direct service centers, and digital platforms, serving 18 million unique clients across Brazil and Uruguay.

Product overview

Porto Seguro is a comprehensive ecosystem of technology-based service and protection solutions organized into four business verticals: Porto Seguro (property & casualty insurance including auto, residential, and combined Car+Home products), Porto Saúde (health insurance), Porto Bank (banking and financial services), and Porto Serviço (automobile and home assistance services). The portfolio includes subscription-based insurance products (Azul por Assinatura, Auto Fácil Itaú), rental guarantee (Aluguel Essencial), automotive service centers, and mobility solutions through ConectCar. Subsidiaries include Azul Seguros, Itaú Seguros de Auto e Residência, and Porto Seguro Uruguay. The company serves 18 million unique clients through 46,000 independent brokers, 13,000 service providers, and branches throughout Brazil.

Differentiator

Problem solved

Functional benefit

Products and services

• Porto Seguro Insurance Primary insurance brand offering auto, residential, and other property and casualty insurance products distributed through branches, brokers, and digital platforms across Brazil.
• Porto Saúde Health insurance vertical offering comprehensive healthcare coverage with selective high-quality provider networks and competitive pricing, including dental services through Porto Seguro Serviços Odontológicas.
• Porto Bank Financial services and banking vertical offering banking products, credit, financing, investment services, consortium management, and ConectCar automatic payment solutions for tolls, parking, and drive-thrus.
• Porto Serviço Assistance services vertical offering automobile and home assistance services in B2C model and strategic B2B2C partnerships.
• Porto Seguro Capitalização Capitalization and prize-linked savings products offered through Porto Seguro Capitalização S.A.
• Azul Seguros Insurance subsidiary primarily offering auto insurance products, acquired in 2003 from AXA.
• Itaú Seguros de Auto e Residência Auto and home insurance brand distributed exclusively through Itaú Unibanco sales channels following the 2009 business combination.
• Porto Seguro Uruguay Insurance company subsidiary operating in Uruguay, providing insurance products in the Uruguayan market.
• Proteção Combinada (Carro+Casa) Combined protection product bundling auto and home insurance coverage into a single policy.
• Azul por Assinatura Subscription-based auto insurance offering with more affordable monthly prices targeting clients who do not yet have auto insurance.
• Auto Fácil Itaú Subscription-based auto insurance offered through Itaú Unibanco channels with accessible pricing and market expansion potential.
• Aluguel Essencial Rental guarantee product that is more agile, digital and cost-effective compared to traditional offerings.
• Automotive Service Centers Company-owned automotive service centers providing repair and maintenance services for insured vehicles.
• ConectCar Automatic payment solutions for toll roads, parking lots, drive-thrus, and other services through electronic tags, integrated into the Porto Bank ecosystem.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered flagship, minor and core.

• Itaú Unibanco Holding S.A.flagshipStrategic or Co-development Partner · 1 January 2009Strategic partnership and business combination involving home and auto insurance operations. Porto obtained exclusivity to offer and distribute insurance products through Itaú's sales channels. This partnership combined standards of excellence, offering products through brands Porto Seguro, Itaú Auto e Residência and Azul Seguros. Controlling block composed of Garfinkel family (40.4%) and Itaú Unibanco (30.4%).
• PetloveminorStrategic or Co-development PartnerTransaction involving the transfer of Porto.Pet (veterinary medicine services) to Petlove, restructuring pet health business operations.
• ConectCarcoreTechnology or IntegrationAcquisition of stake in ConectCar, one of the main companies in automatic payments for tolls, parking, drive-thrus and other services through electronic tags. Integrated into Porto Bank ecosystem.
• OncoclínicasminorStrategic or Co-development PartnerAgreement with Oncoclínicas to offer comprehensive care model to cancer patients, ensuring high standard experience in treatment journey, excellent assistance and operational efficiency for Porto Saúde.
• Mitsui SumitomominorStrategic or Co-development PartnerCoinsurance agreement covering auto, residential and small/medium enterprise insurance products, expanding market reach and risk sharing.
• CDF (Porto Assistência merger)minorStrategic or Co-development PartnerMerger of Porto Assistência with CDF, a B2B assistance company with major market players as clients, strengthening assistance services capabilities.
• UnigásminorStrategic or Co-development PartnerAcquisition of Unigás, a company that installs and provides technical assistance related to gas heating systems, expanding home assistance service offerings.

Scale indicators6 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Tokio Marine Seguradora: Brazilian operations of Japanese global insurer Tokio Marine, offering auto, home, life, and P&C insurance products through broker and direct channels. Comparable to Porto's multi-line insurance portfolio in the same Brazilian market.
• HDI Seguros: German-owned Brazilian insurer with strong focus on auto and P&C insurance, distributing through brokers and direct channels. Closely comparable to Porto's core auto and home insurance franchise.
• Allianz Brasil: Brazilian subsidiary of German global insurer Allianz, offering multi-line insurance products including auto, home, life, and health. Comparable to Porto's multi-line insurance portfolio distributed to individuals and businesses across Brazil.
• SulAmérica: One of Brazil's largest insurance conglomerates with multi-line offerings across health, dental, life, auto, and P&C insurance. Comparable to Porto's full-suite insurance, health, and assistance ecosystem serving individual and corporate clients.
• Liberty Seguros: Brazilian operations of US-based Liberty Mutual, offering multi-line insurance including auto, home, and commercial coverage. Directly comparable to Porto's P&C insurance offerings; notably, Porto's current Insurance EVP was formerly CEO of Liberty Seguros Brazil.
• Sompo Seguros: Brazilian operations of Japanese global insurer Sompo, offering multi-line insurance including auto, home, and P&C products. Comparable to Porto's core P&C insurance franchise in the Brazilian market.
• Mapfre Brasil: Brazilian subsidiary of Spanish global insurer Mapfre, offering auto, home, life, and P&C insurance products with a broker-led distribution model. Comparable to Porto's multi-line P&C insurance portfolio and broker channel.
• Zurich Seguros: Brazilian subsidiary of Swiss global insurer Zurich, offering multi-line insurance products including auto, home, life, and commercial coverage. Competitor to Porto in the same Brazilian insurance market with similar broker and digital distribution.
• Bradesco Seguros: Insurance arm of Banco Bradesco offering multi-line insurance products (auto, home, life, health, capitalization) distributed through Bradesco's branch and digital channels. Directly comparable to Porto's insurance distribution model anchored by a major banking partner.

Broad incumbents

• Itaú Unibanco: Largest private bank in Brazil, Porto's exclusive distribution partner since 2009 and 30.4% shareholder of the controlling block. Operates insurance and broader financial services, but its portfolio is much wider than Porto's; relevant as a strategic partner and competitive benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/porto-seguro-servi%C3%A7os-e-com%C3%A9rcio-s.a.

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Porto Seguro Serviços e Comércio S.A.