Hashtag: #Brazil
‘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
Hockey: Bermuda Lose 3-0 To Brazil
[Updated] The Bermuda Women’s National Field Hockey Team played their first game in the 2011 Pan American Challenge Cup being held in Brazil, losing 3-0 to the hosts today [July 31]. Bermuda took on Brazil and found themselves down 1 – 0 on the stroke of half time when Tatiana Machado scored from a penalty corner. In the 43rd minute Brazil doubled... Read more of this article
Prescription Drugs From India, Brazil, Israel
Following a change in the Pharmacy and Poisons Act, prescription drugs from Brazil, India and Israel can be imported into Bermuda Health Minister Zane Desilva said, “Today I am pleased to announce that Brazil, India and Israel will be added to the list of countries from which prescription drugs can be imported into Bermuda.” “The Ministry... Read more of this article
Hockey Team For Pan-Am Announced
The Bermuda Hockey Federation has announced the Senior Women’s Hockey Team for the Pan-Am Challenge Cup to be held in Brazil, July 30th to August 7th. The Pan-Am Challenge Cup is a qualifying tournament for the 2012 Pan-Am Cup, the top two teams will move forward from the Challenge into the Cup and compete with world hockey powers such as Argentina,... Read more of this article
Alterra: Incorporate Reinsurance Co. in Brazil
Bermuda based Alterra Capital Holdings Limited today [May 9] announced that it is planning to apply for a license to incorporate a local reinsurance company in Brazil. W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, commented: “It has been just over a year since we set up Alterra Latin America, and we are continuing to... Read more of this article
Ariel Re To Open Office in Brazil
Bermuda-based Ariel Reinsurance Company Ltd. will be opening of a representative office in Rio de Janeiro, Brazil following its approval as an admitted reinsurer by the Brazilian insurance regulator, Superintendência de Seguros Privados (SUSEP). Ariel Re said its initial focus in Brazil will be on Surety and Trade Credit reinsurance, underwritten... Read more of this article
Bermuda & Brazil Complete Tax Treaty Negotiations
The Minister of Finance Paula Cox announced that Bermuda and Brazil have completed negotiations of a bilateral tax information exchange treaty (TIEA) with the Government of Brazil. The TIEA is not yet signed. It is expected to be signed later this year after both countries’ internal approval processes have been completed. The TIEA would provide for... Read more of this article
