Swiss Reinsurance America Corporation and Swiss Reinsurance Company Ltd. have been officially recognized as admitted reinsurers by Susep, the Brazilian insurance regulator, with the ability to sell reinsurance in the newly de-regulated Brazil marketplace. Swiss Re opened an office in Brazil and applied for official admission in February (See IJ web site – http://www.insurancejournal.com/news/international/2008/02/20/87467.htm).
Beat Strebel, Head of Swiss Re’s Latin America operations, noted that the reinsurer “has a long history of involvement in Brazil with more than 50 years of business relationships,” and has maintained an office in the country for 12 years.
The bulletin also indicated that as “an admitted reinsurer, Swiss Re will benefit from greater flexibility and will be able to offer its wide range of reinsurance products and financial services solutions in Brazil.”
Source: Swiss Re: www.swissre.com
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