Swiss Re announced that it has submitted an application to Brazil’s Superintendence of Private Insurance (SUSEP) for a local reinsurance registration.
Swiss Re said it “views a Brazilian reinsurance registration as a local reinsurer as the next step in its continued dedication to its clients and the Brazilian insurance market. The local registration will allow Swiss Re to participate fully in the Brazilian market and service a wider spectrum of clients and risks while being an active player in future market developments.
“Swiss Re’s commitment to Latin America began 100 years ago and it serviced the Brazilian market since 1924. It opened its São Paulo office in 1996.”
Rolf Steiner, Swiss Re’s Region Head of Brazil and Southern Cone Reinsurance explained: “Brazil is a key growth area for Swiss Re. The economic expansion coupled with large infrastructure projects to support this growth, the World Cup, and Olympics have increased the need for risk management support.
“As a global re/insurance leader, Swiss Re has the expertise and capacity to serve the growing demand in this thriving region. With 100 years of service to the Latin American market, we have seen Brazil evolve as a leader and we view the local registration status as further evidence of our support for our clients,” he added.
Source: Swiss Re