Product focus - Converium takes advantage of relaxation in Brazilian laws to grow crop insurance

Converium has become one of the first foreign insurers to take advantage of the increasingly liberal reinsurance regime in Brazil.On 15 January 2007, Brazil's vice-president, Jose Alencar, signed a bill establishing regulatory norms for national and foreign reinsurers to enter the Brazilian reinsurance market, previously a monopoly of the state-owned Instituto de Resseguros do Brasil (IRB).Converium's scheme has been launched in conjunction with Alianaa do Brasil, the insurance unit of Banco