NU Online News Service, April17, 3:40 p.m. EDT

Lloyd's said it is opening its office in Brazil today, a year after receiving approval from the Superintendence of Private Insurance (SUSEP) to become the first admitted reinsurer in the country.

Located in Rio de Janeiro, Lloyd's Brazil will allow syndicates and managing agents to offer reinsurance in the country, Lloyd's said. The operation, it noted, already has two syndicates with a permanent local presence–Liberty and Marlborough–with a third, Catlin, already established in Sao Paulo.

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