Porto Seguro and Petlove to form Porto.Pet.

Porto Seguro, a business group in the animal health insurance segment, and Petlove, a digital ecosystem for pet owners in Brazil, are set to form Porto.Pet. Financial terms were not disclosed. After this transaction, Porto Seguro will hold a 13.5% interest in Petlove and, in return, will transfer the ownership rights of Health for Pet, a branch of the Porto Seguro, to the e-commerce company. "This synergistic enterprise reinforces our mission of becoming the largest platform for pet products and services, while also guaranteeing ultimate convenience to all links in the pet chain: not only for pet tutors, but also for doctors, veterinary clinics, hospitals and pet shops from all over Brazil. The combination between Porto Seguro and the Petlove ecosystem, as well as the launching of Porto.Pet, are important steps towards expanding our vetenarian's sphere of influence within the brazilian market. These professionals are our key to success," Marcio Waldman, Petlove Founder.