Material Fact

São Paulo, May 25, 2016 - Alper Corretora de Seguros SA ("Company" or "Alper") informs its shareholders and the market in general that, in line with the integration strategy and the transformation into a single brokerage firm, the Company is initiating studies on the incorporation of its subsidiaries.

Alper was initially designed to be a holding company for insurance brokers, but this structure presented difficulties for the integration of the business, as well as high running costs associated with the decentralized administration. The incorporation of the subsidiaries is being evaluated as an operationally and financially more effective alternative. As such, the Company believes that the mergers will facilitate the process of managing and developing a long-term strategic plan.

Once the study has been completed and the administration has decided in favor of the incorporation process, selected the subsidiaries and the conditions, a shareholders meeting will be called. Shareholders will then be able to put forward their vote with the provision of the relevant information and material.

The Company will keep its shareholders and the market informed on future developments related to the merger transactions as well as about the timelines and other relevant information.

Investor Relations
Tel.: +55 11 3175-2900