NU Online News Service, Dec. 20, 3:55 p.m. EST
Local reinsurers are expected to benefit from new regulations in Brazil that require local insurance companies to cede 40 percent of reinsured risk to local reinsurers, according to Moody's Credit Outlook.
"In our view the new regulations provide considerable competitive advantage to local reinsurers, as they will effectively be competing only amongst themselves for at least 40 percent of each and every risk," wrote Rodolfo Nobrega, vice president and senior analyst.
The remaining risk can be written by so-called "admitted" and "occasional" reinsurers.
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