XL Re, the global reinsurance operations of XL Capital Ltd. said it plans to serve the Brazilian reinsurance market as both a local and admitted reinsurer, subject to regulatory approval.
XL Re’s entry is a response to the opening of Brazil’s reinsurance market to the private sector effective April 17, 2008.
Carlos A. Caputo will manage the new reinsurance operations. Caputo has more than 30 years experience in underwriting and management in the Brazilian market with a background in the Brazilian brokerage business and reinsurance.
XL Re’s Brazilian reinsurance operations will be based in Rio de Janeiro with an additional office in Sao Paulo.
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