On Friday, October 16, 2026, Caixa Seguridade (CXSE3) reported that Too Seguros S.A. received notice from Banco Pan S.A. regarding the termination of the Distribution of Products Through Distribution Network Agreement, with payment to Too Seguros of a pre-established penalty estimated at approximately R$ 750 million, to be settled by October 30, 2026.
According to the company, the effective receipt of this penalty by Too Seguros will generate a positive, non-recurring impact on Caixa Seguridade’s net income estimated at R$ 210 million in fiscal year 2026, to be recognized under the equity method, in the “results from investments in subsidiaries and affiliates” line, already factoring in tax effects and the company’s indirect economic interest in Too Seguros.
With the termination of the agreement, Too Seguros will lose exclusivity for selling insurance products through Banco Pan’s bancassurance channel, and the parties will continue to perform their roles in serving customers with active policies.
