WIZC3 Wiz Co

Wiz Co is a Brazilian company primarily engaged in managing distribution channels for insurance and financial products, with common shares traded on B3 under the ticker WIZC3, in the Novo Mercado segment. The company was incorporated in 1973 in Rio de Janeiro under the name FENAE Corretora de Seguros e Administração de Bens S.A., initially as a wholly owned subsidiary of the Federação Nacional das Associações de Pessoal da Caixa Econômica Federal (FENAE). For three decades it remained focused on insurance brokerage, business intermediation and asset management, with an emphasis on products and services from Caixa Econômica Federal and its commercial partners. In 2003, the headquarters was moved to Brasília, maintaining its original business focus. Over the following years, the company went through several corporate and name changes, such as Par Corretora de Seguros S.A. and FPC Par Corretora de Seguros S.A., reflecting strategic adjustments aimed at strengthening its insurance brokerage activities. In 2015, it obtained registration as a category A securities issuer and, after a secondary public offering, its shares began trading on the Brazilian stock exchange. In 2017, it adopted the brand Wiz Soluções e Corretagem de Seguros S.A., accompanied by a ticker change on B3 and, subsequently, consolidated its corporate identity as Wiz Co, with a diversified focus on insurance, credit, consortiums and related services.

Wiz Co’s trajectory includes relevant equity restructurings and moves to diversify partnerships. In 2012, the entry of new shareholders, such as Boxe Participações and CNP Seguros Holding Brasil S.A., reorganized the controlling block and formalized exclusivity for the distribution of insurance products of the holding company linked to Caixa Seguridade through the so-called “Balcão Caixa.” In 2013 and 2014, internal corporate reorganizations led the then indirect controlling shareholders to hold direct interests in the share capital, with the entry of new investors such as Évora Fundo de Investimento em Participações. In 2015, the company signed an operational partnership agreement with CNP Seguros Holding and its subsidiaries, reinforcing its role as an insurance broker in the Caixa network. In 2017, after the end of the lock-up period, investors such as Algarve LLC and Évora FIP disposed of their stakes, changing the composition of the controlling block. In 2018 and 2019, the company began to implement a strategy of diversifying channels and partners, with the creation of new subsidiaries and acquisitions such as Wiz Concept, stakes in technology companies (such as GR1D Tecnologia and GR1D Insurance) and the purchase of an interest in Inter Seguros, linked to Banco Inter, expanding its presence on digital platforms.

Wiz Co’s business model is structured into three operating segments: insurance, credit and consortiums, and services. The company operates as a full-service insurance broker, with strong specialization in bancassurance and distribution of consortiums and credit. Its focus is on managing third-party distribution channels, especially banks, retailers and other commercial partners, designing sales and after-sales strategies and operating in both prospecting and activation and engagement of sales forces. The business is supported by a transversal corporate structure made up of the Strategy, Communications, Technology, People & Culture, Finance and Internal Audit, Compliance and Investor Relations and M&A areas, which enables it to replicate operating models across different partnerships. On December 31, 2024, the company organized its operations into several business units (BUs), such as Bmg Corretora, BRB Seguros, Inter Seguros, Omni1 Corretora, Wiz Conseg, Polishop Seguros, Wiz Corporate, +você by Wiz, Promotiva, Wiz Parceiros, Wiz Concept and Paraná Seguros, among others, which are allocated to the segments according to their main market of operation.

In the insurance segment, Wiz Co operates mainly through partners’ proprietary physical and digital branches, seeking to monetize the customer base through the offering of insurance and, in some cases, credit products, provided these are not the core of the partner’s operations. The units in this segment include subsidiaries such as Wiz Conseg, Bmg Corretora, BRB Seguros, Polishop Seguros, Wiz Corporate, Omni1 Corretora and the run-off operation of the Rede Caixa, as well as investees such as Inter Seguros, Paraná Seguros and +você by Wiz. The activities cover bancassurance products such as mortgage insurance, credit life, life, homeowners, multi-risk commercial, auto and extended warranty; traditional products such as auto and property insurance, in which customer demand precedes the channel; and special risk insurance aimed at corporate clients, such as various surety lines, rural insurance, liability insurance and property insurance for large risks. In 2024, this segment reached billions in written premiums, with relevant revenue derived from commissions calculated on the premiums of insurance sold, negotiated taking into account technical margins, pricing and loss ratios of partner insurers.

The credit and consortiums segment concentrates the operations of the Wiz Parceiros and Promotiva units, which operate mainly in indirect channels and B2B2C models. Wiz Parceiros, through WP1 and WP2 Corretoras, manages a nationwide network of commercial partners for selling consortiums and related insurance, such as credit life and guarantee-break insurance associated with credit letters. This unit operates under agreements with consortium administrators such as Itaú Consórcios, Santander Consórcios, BB Consórcios, CNP Consórcios and Porto Bank Consórcio, among others, distributing products in the auto and real estate categories. Promotiva focuses mainly on retail credit, including payroll-deductible loans, salary loans, portability and other modalities, as well as offering consortiums, insurance and services such as checking account opening, usually via banking correspondents (Cobans) hired by financial institutions such as Banco do Brasil. This segment also markets accumulation products such as pension and capitalization plans, distributed both by the credit and consortium units and by units in the insurance segment, creating an integrated offer of financial solutions.

The services segment, in turn, is structured mainly around the Wiz Concept unit, which offers technological and operational solutions for the entire value chain of the group and external clients, focused on insurance and credit. Wiz Concept was created to centralize back-office operations, pre- and post-sales of insurance, consortium, pension and other financial products, incorporating over the years contracts and assets from companies such as Comp Line and expanding its scope to customer service, telesales, claims adjustment, inspections, electronic document management, collections and outsourcing of specialized labor. The acquisition of a stake in GClaims expanded Wiz Concept’s capabilities in consulting and information technology solutions, with the development and licensing of software, platforms for automated policy management, claims adjustment and specific modules for real estate- and vehicle-backed credit. This segment positions Wiz Co not only as a commercial intermediary, but also as a provider of service and technology infrastructure for the insurance and financial ecosystem.

Wiz Co’s main source of revenue comes from commissions paid by insurers and financial institutions for the intermediation of insurance, consortium, pension and credit products. These commissions are recognized as the product installments are paid by end consumers and represent a percentage of the premium or reference amount, adjusted to preserve insurers’ technical margins and the economic viability of the channels. The company operates with remuneration models designed jointly with its partners, taking into account the cost structure, expected loss ratios and portfolio profile. The multichannel operation, which includes in-branch counters at bank branches, digital platforms, networks of commercial partners and banking correspondents, allows Wiz Co to access different audiences, both individuals and legal entities, at various moments in the credit, consumption or asset-protection cycle.

In terms of organizational management and governance, the company adopts a business unit model with operational autonomy, but connected through a central corporate structure focused on data analysis, operational efficiency and process standardization. The corporate culture is explicitly results-oriented, with emphasis on developing professionals considered high performers, seeking synergy between teams, respect for diversity and social responsibility. Wiz Co has a track record of recurring certifications in workplace climate rankings, such as Great Place to Work (GPTW) awards in Brazil, including specific recognitions related to the inclusion of women and their presence in leadership positions. Based on this arrangement, the company seeks to sustain organic expansion and growth through partnerships, maintaining flexibility to create new units and adapt to different contractual arrangements with banks, insurers and other business partners, while keeping its WIZC3 shares listed on B3 as a vehicle for raising capital and accessing the equity market.