Hashtag: #Brazil
Mixed Reaction To Brazil Regulatory Changes
Industry opinion on the likely long-term impact of new Brazilian reinsurance rules lobbied for by the Association of Bermuda Insurers & Reinsurers [ABIR] among other groups remains mixed, a recent survey conducted by “LatAm Insurance Review” has revealed. ABIR is the public policy branch of Bermuda’s re/insurance industry, with... Read more of this article
Dr. Pitt Returns From Marine Workshop
Earlier this month Marine Resources Officer at the Department of Environmental Protection Dr. Joanna Pitt attended a regional workshop in Recife, Brazil, organised by the Secretariat for the Convention on Biological Diversity – a United Nations Convention, to which the United Kingdom is a party. Dr. Pitt’s participation from February 28 through... Read more of this article
AXIS Re Brazil To Open In São Paulo
AXIS Capital Holdings Limited will open AXIS Re Brazil, a new representative office in São Paulo, Brazil, established to source property and casualty business from Brazil and the Southern Cone. Karl Mayr, CEO and President of AXIS Re Europe, commented, “AXIS Re has identified Latin America as a major growth opportunity for property and casualty reinsurance. “Having... Read more of this article
Brookfield Reports Jump In Revenue
Bermuda’s Brookfield Renewable Energy Partners L.P. today [Feb.13] reported an increase in both revenue and funds from operations for the year ended Demember 31 compared with 2010. Backed by Canadian interests, Brookfield Renewable Energy Partners L.P. is a Bermuda-based limited partnership that is treated as a partnership for US and Canadian... Read more of this article
‘A Lot Of Interest’ In Seadrill Brazil IPO
Bermuda’s Seadrill Ltd., the oil-rig operator controlled by international shipping magnate John Fredriksen, expects a “lot of interest” in the initial share offering in its Brazilian unit, the chief financial officer told the Bloomberg financial news network today [Jan.24]. “Brazil is a drilling heartland market and Seadrill wants to grow... Read more of this article
Brazil ‘Protectionism’ Could Hurt Economy
Brazil’s booming economy could be severely affected if a catastrophe occurs due to “protectionist” reinsurance regulation, industry trade groups including the Association of Bermuda Insurers & Reinsurers [ABIR] have warned. In a statement released, earlier this month, representatives from ABIR, the European insurance and reinsurance federation... Read more of this article
Alterra To Open Brazil Reinsurer
Bermuda’s Alterra Capital Holdings Limited today [Jan.18] announced that the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados [SUSEP], has given final approval for the firm to establish a local reinsurance company. Alterra Re Brasil will be located in Rio De Janeiro and is expected to offer a wide range of reinsurance... Read more of this article
ABIR Slams Brazil’s ‘Protectionism’
A coalition of reinsurance trade groups including the Association of Bermuda Insurers & Reinsurers [ABIR] today [Jan.13] pointed to the record 2011 global natural disaster insured catastrophe losses as a warning sign as to why protectionist reinsurance regulation will backfire in jurisdictions which try to impose limits on global risk distribution... Read more of this article
XL: Go-Ahead For Brazil Venture
XL Group plc, headquartered in Ireland and with its executive offices in Bermuda, today [Jan. 5] announced that the group has received final approval from the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados [SUSEP], to establish an insurance operation in the country. XL Seguros Brasil S.A. in Sao Paulo will offer... Read more of this article
Seadrill Mulls Brazilian Venture
Bermuda’s Seadrill Limited is contemplating expanding its product range with an ambition to offer a wider range of oilfield services in Brazil. The company announced today [Dec. 14] that such expansion could include a joint investment with SapuraCrest Petroleum Bhd, or SapuraCrest, which recently, through a wholly owned subsidiary, entered into... Read more of this article
ABIR Urges Brazil To Lift Restrictions
The Association of Bermuda Insurers & Reinsurers [ABIR] has joined with other global insurance groups to urge Brazil to lift reinsurance restrictions in one of the world’s leading emerging markets. ABIR — the public policy branch of Bermuda’s off-shore re/insurance industry — is part of a coalition of 18 international insurance... Read more of this article
XL: Prior Approval To Establish In Brazil
XL Group plc and its subsidiaries today announced that the XL group of companies has received prior approval from the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados (SUSEP), to establish an insurance operation in the country. Upon receipt of final regulatory approval, XL plans to open XL Seguros Brasil S.A. in Sao... Read more of this article
