Brazil regulator expects 13 reinsurers in the short term - reports
The head of Brazilian insurance regulator SUSEP, Armando Vergilio, has said that in a short period he expects Brazil to have a total of 10 additional licensed reinsurers as well as the incumbent former monopolist, IRB-Brasil Re (the IRB), operating in the marketplace, hot on the heels of the first entrants, Lloyd’s and Munich Re, to bring a total of 13 licensed reinsurers.
Fenaseg, the Brazilian insurers association, quoted Vergilio as saying that Scor, Swiss re America and Transatlantic Re’s applications were at a pre-approved stage, just lacking final documentation
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