WIZC3

Wiz Co is a Brazilian company whose core business is 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 company wholly owned by the Federação Nacional das Associações de Pessoal da Caixa Econômica Federal (FENAE). For three decades, it 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 underwent several corporate and name changes, such as Par Corretora de Seguros S.A. and FPC Par Corretora de Seguros S.A., reflecting strategic adjustments geared toward 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 name Wiz Soluções e Corretagem de Seguros S.A., together with a ticker change on B3 and later consolidated its corporate identity as Wiz Co, with a diversified focus on insurance, credit, consortiums, and related services.

Wiz Co’s trajectory includes significant 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 sale of insurance products from the holding linked to Caixa Seguridade through the so-called “Balcão Caixa.” In 2013 and 2014, internal corporate reorganizations led the then indirect controllers to hold direct stakes in the share capital, with the entry of new investors such as Évora Fundo de Investimento em Participações. In 2015, the company entered into an operational partnership agreement with CNP Seguros Holding and its subsidiaries, reinforcing its role as an insurance broker within 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 execute a strategy of diversifying channels and partners, with the creation of new subsidiaries and acquisitions such as Wiz Concept, equity interests in technology companies (such as GR1D Tecnologia and GR1D Insurance), and the acquisition of a stake 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 the 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 comprising Strategy, Communications, Technology, People & Culture, Finance and Internal Audit, Compliance and Investor Relations, and M&A, which enables it to replicate operating models across different partnerships. As of 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’ physical and digital branches, seeking to monetize the customer base through the offer of insurance and, in some cases, credit products, provided these are not the partner’s core operation. 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 Rede Caixa, as well as investees such as Inter Seguros, Paraná Seguros, and +você by Wiz. Its activities cover bancassurance products, such as mortgage, credit life, life, homeowners, multi-risk business, auto, and extended warranty insurance; traditional products, such as auto and property insurance, where customer demand precedes the channel; and special risk insurance aimed at corporate clients, such as various surety bonds, rural insurance, liability insurance, and property insurance for large risks. In 2024, this segment totaled billions in written premiums, with significant revenue from commissions calculated on the insurance premiums sold, negotiated considering technical margins, pricing, and the loss ratios of partner insurers.

The credit and consortiums segment concentrates the operations of the Wiz Parceiros and Promotiva units, which operate mainly through indirect channels and B2B2C models. Wiz Parceiros, through WP1 and WP2 Corretoras, manages a nationwide network of commercial partners for the sale of consortiums and related insurance, such as credit life and warranty 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 modalities. Promotiva focuses mainly on consumer credit, including payroll-deductible loans, salary loans, portability, and other modalities, in addition to offering consortiums, insurance, and services such as checking account opening, usually via banking correspondents (Cobans) contracted by financial institutions such as Banco do Brasil. This segment also sells accumulation products such as pension plans and capitalization bonds, distributed both by the credit and consortium units and by units of the insurance segment, creating an integrated offering 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, with a focus on insurance and credit. Wiz Concept was created to centralize back-office operations, pre- and post-sales of insurance, consortiums, pension plans, 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 IT solutions, with the development and licensing of software, platforms for automated policy management, claims adjustment, and specific modules for loans secured by real estate and vehicles. 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 brokering insurance, consortiums, pension products, and credit. These commissions are recognized as the installments of the products 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 compensation models designed jointly with its partners, taking into account cost structure, expected loss ratios, and portfolio profile. Its multichannel operation, which includes desks in bank branches, digital platforms, networks of commercial partners, and banking correspondents, allows Wiz Co to reach different audiences, both individuals and companies, at various points 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 an emphasis on developing professionals regarded as high performers, pursuing synergies between teams, respect for diversity, and social responsibility. Wiz Co has a history of recurring certifications in organizational climate rankings, such as the 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 support organic and partnership-based expansion, 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 an instrument for raising capital and accessing the equity market.