Swiss Reinsurance America Corporation and Swiss Reinsurance Company Ltd. said that the firms have been officially recognized as admitted reinsurers by Susep, the Brazilian insurance regulator.
The companies reported that official approval giving them the ability to sell reinsurance in the newly deregulated Brazil marketplace was announced in the Brazilian Official Gazette yesterday.
Beat Strebel, head of Swiss Re's Latin America operations, said, “Swiss Re is pleased to officially become an admitted reinsurer in Brazil. Swiss Re has a long history of involvement in Brazil with more than 50 years of business relationships, and we have maintained an office in the country for 12 years.”
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