Cypress has completed IRB’s acquisition of a minority stake in B3i Services AG

Cypress has successfully completed IRB’s acquisition of a minority stake in B3i Services AG. The company acquired 8.93% of the Swiss insurance and reinsurance services provider, which was valued at R$ 174,000,000 (€ 39,000,000).

The subscription of 8.93% of B3i’s shares positions IRB Brasil Re as the only company in Latin America alongside the leading global companies of insurance and reinsurance.

B3i is one of the main global technology development initiatives for the insurance and reinsurance segment, including the registration of these transactions through a Blockchain platform.