Insurance Industry in Brazil is Governed by the SUSEP

Date: 2015-09-01

“• The state reinsurer, Brazil Resseguros S.A., was privatized in September 2013.

• Non-admitted insurance is not permitted in Brazil. However, there are a few exceptions to it.

• Insurance industry in Brazil is governed by the SUSEP. 

• The FDI regime of Brazil allows up to 100% foreign ownership in domestic insurance companies.

• Key classes of compulsory insurances include motor third-party liability and worker’s compensation and domestic credit insurance.”

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