NOTICE TO THE MARKET

Brasil Insurance Participações e Administração S.A. ("Company"), pursuant to CVM Instruction 358/2002, and amendments thereof, hereby informs its shareholders and the market in general that received correspondence from FUNDO GULF II DE INVESTIMENTO EM PARTICIPAÇÕES ("Gulf") informing that in negotiations held in 24/03/2015 reduced their participation in the Company's shares to 4.94% of total ordinary shares issued by the Company.

Gulf emphasized that the reduction in their participation aims to i) only make a financial transactions; ii) does not intend to change Company's control composition; and finally iii) that Gulf has no goal to reach any share ownership interest in particular.

São Paulo, March 27, 2015
Miguel Longo Junior
Chief Financial and Investor Relations Officer

Investor Relations
Tel.: +55 11 3175-2900
E-mail: ir@brinsurance.com.br

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