IRB Brasil RE News

Brazil Reinsurer IRB Eyes Purchase of Foreign Competitors’ Portfolios: Sources

Brazilian reinsurer IRB Brasil Resseguros SA is in advanced negotiations to buy rivals’ portfolios in Brazil and elsewhere in Latin America as foreign competitors scale back in the region, two sources close to the company told Reuters. Any such acquisition …

AM Best Puts Ratings of Brazil Reinsurer IRB Under Review on Governance Issues

AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB Brasil Resseguros S.A. The rating actions follow the resignation of IRB’s CEO and CFO …

Brazil Reinsurer IRB Resseguros Replaces CEO, CFO on Governance Concerns

Brazilian reinsurer IRB Brasil Resseguros SA replaced its chief executive and chief financial officer after its shares plunged nearly 32% on Wednesday after the company said that Berkshire Hathaway is not an investor. Werner Suffert will serve as interim CEO …

Berkshire Hathaway Eyes Buying Stake in IRB Brasil Resseguros: Sources

Berkshire Hathaway Inc., the firm run by billionaire investor Warren Buffett, is in talks to buy a stake in Latin America’s biggest reinsurer, IRB Brasil Resseguros SA, after an initial public offering of stock, according to two people with direct …

IRB Brasil Postpones IPO Amid Stock Market Turmoil: Reuters

IRB Brasil RE, the country’s biggest reinsurer, postponed its initial public offering amid market turmoil, Reuters reported, citing unidentified people with knowledge of the matter. Investment banks managing the sale found it unfeasible to proceed, Reuters said. The government expected …

Brazil Insurer Caixa Seguridade, Reinsurer IRB Plan IPOs to Raise $3.6 Billion

Brazilian insurer Caixa Seguridade Participações SA and reinsurer IRB Brasil RE SA on Tuesday filed plans for initial public offerings that their shareholders expect to raise a combined 13 billion reais ($3.6 billion) should an across-the-board market rout ease in …

IRB Brasil RE Seeks to More Aggressive Growth in Latam, Africa; Weighs IPO

IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil’s largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer …