Minneapolis-based Collins reinsurance brokerage and Brazil's newly-formed reinsurance brokerage Especializada Re announced yesterday that the two companies have an agreement to serve as exclusive correspondent brokers placing coverage for Brazilian insurance companies.
Under the agreement, Especializada Re, based in Rio de Janeiro, will work directly with insurers and reinsurers operating in the Brazilian market. Collins, in turn, will serve as a consultant to the newly established Brazilian reinsurance broker.
Especializada Re received approval to operate as a reinsurance broker in that country on July 16 from Superintendencia de Seguros Privados (SUSEP), Brazil's superintendent of private insurance.
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