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fluxo subordinado da seguradora em prioridade

English translation: with the insurance company's subordinate cash flow taking priority over

17:42 Jun 18, 2018
Portuguese to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Economic Report: Improving Financing in Brazil (Construction/infrastructure)
Portuguese term or phrase: fluxo subordinado da seguradora em prioridade
Not sure what "fluxo" (flow doesn't click) is referring to. Here is the text (phrase at end of second paragraph):

"As seguradoras passam a acompanhar de perto o Projeto. E os acionistas tem que preferir a não execução da apólice, porque se isto acontecer, ficaria caracterizado a subordinação do fluxo dos acionistas. Ou seja, se a apólice for executada, significa que 30% do investimento será aportado pelas seguradoras para gerir e terminar a execução do Projeto. Por ter investido, a seguradora desloca a gestão dos acionistas e passa a controlar a execução.

As seguradoras entram no Projeto com carta branca para, com a injeção desses recursos, terminar a obra e se tornarem subordinadas no recebimento da sua indenização pelo sinistro. Depois de concluída a obra, acionistas retomam a gestão, com o fluxo subordinado da seguradora em prioridade a qualquer recebimento por parte dos acionistas.

Em [data], BNDES tinha circulado uma minuta com as condições mínimas da rediscussão desse produto. Em [data], as seguradoras comentaram esse texto. Em [data] houve uma reunião entre as Seguradoras e o Time do BNDES. Decidiu-se recircular uma apólice produzida por uma das seguradoras em novembro de 2016 com muitas discussões com o BNDES. A equipe de energia elegeria até três projetos (preferencialmente de menor risco, como em transmissão, solar e eólico, para ser um piloto. E as seguradoras concordaram em buscar a proteção de 100% da dívida nesse teste em um completion físico."
Seth Phillips
United States
Local time: 10:38
English translation:with the insurance company's subordinate cash flow taking priority over
Explanation:
I get the impression that the author is using the term "subordinado" with a different meaning, or has even included it in this phrase by mistake.

The text has already stated that the shareholders' cash flow would be subordinate if the policy is executed: "... ficaria caracterizado [sic] a subordinação do fluxo dos acionistas." Then, in the phrase in question, it says that, in the same situation, the insurance company's cash flow would be subordinate, but would have priority over any monies going to the shareholders. To me, this seems contradictory.

Good luck!
Selected response from:

Martin Riordan
Brazil
Local time: 11:38
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1with the insurance company's subordinate cash flow taking priority over
Martin Riordan
3cash flow apportioned by the insurance company, giving priority to...
Oliver Simões


  

Answers


25 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
cash flow apportioned by the insurance company, giving priority to...


Explanation:
Page 123 of this document by Revista Brasileira de Risco e Seguro explains how to calculate the "fluxo" and in the process it becomes clear they are talking about "cash flow". See link below, refer to "Figura 3".


    Reference: http://www.rbrs.com.br/arquivos/RBRS8-5%20Cesar%20da%20Rocha...
Oliver Simões
United States
Local time: 07:38
Specializes in field
Native speaker of: Native in PortuguesePortuguese
PRO pts in category: 28
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6 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
with the insurance company's subordinate cash flow taking priority over


Explanation:
I get the impression that the author is using the term "subordinado" with a different meaning, or has even included it in this phrase by mistake.

The text has already stated that the shareholders' cash flow would be subordinate if the policy is executed: "... ficaria caracterizado [sic] a subordinação do fluxo dos acionistas." Then, in the phrase in question, it says that, in the same situation, the insurance company's cash flow would be subordinate, but would have priority over any monies going to the shareholders. To me, this seems contradictory.

Good luck!

Martin Riordan
Brazil
Local time: 11:38
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 134

Peer comments on this answer (and responses from the answerer)
agree  Antonio Tomás Lessa do Amaral
14 hrs
  -> Obrigado Antonio!
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