Brazil publishes “Letra de Risco de Seguro” rules for ILS securitization

The Brazilian government has published new legislation in its official gazette for what are being termed "Letra de Risco de Seguro", or LRS and translates to Letter of Insurance Risk, which are insurance-linked securities (ILS) laws, as the country looks to encourage risk transfer and reinsurance to the capital markets. We've read the full article →

Brazil’s regulator targeting ILS for the right (domestic) reasons

With Brazil's government having recently formalised and published legislation related to special purpose reinsurance transformer vehicles and insurance-linked securities (ILS) issuance, the country's insurance regulator Susep has said it hopes the regime will reduce reinsurance costs for carriers. As a result of which, Brazil’s regulator the Superintendência de Seguros Privados (Susep) hopes read the full article →

Brazil formalises ILS and special purpose reinsurance vehicle rules

Brazil has now published its awaited rules on insurance-linked securities (ILS) issuance and special purpose reinsurance vehicles, which are due to come into force from January 4th 2021 bringing domestic ILS capabilities to its marketplace. As we've documented previously, the insurance and reinsurance market regulator, the Superintendência de Seguros Privados (Susep), read the full article →

Brazilian regulator calls for greater transparency to support ILS ambitions

The South American nation of Brazil aims to develop a legal and regulatory environment to allow for the issuance of insurance-linked securities (ILS) in the country, but its regulator Susep is calling for the local insurance and reinsurance sector to embrace transparency to support these ambitions. As we explained back in read the full article →

Brazil seeks feedback on ILS regulatory framework proposal

The South American nation of Brazil is the latest to target the creation of a framework for legislation and a regulatory regime to allow for the issuance of insurance-linked securities (ILS) in the country, as it looks to ILS as a possible avenue to help its growing re/insurance industry further read the full article →

UK courting Brazil to use its framework for insurance-linked securities

The government of the United Kingdom is continuing to encourage other countries to look towards the UK and its recently enacted insurance-linked securities (ILS) regulatory and tax framework as a potential avenue for ILS and catastrophe bond issuance, with Brazil the latest country to be courted. Ever since the enactment of read the full article →

Brazil would benefit from parametric insurance solutions says Swiss Re

Natural disasters will likely become more frequent in Brazil and more expensive in terms of loss of human lives and financial expenditure by the government to rebuild and support those without insurance. Frequency of natural disaster in Brazil is on the rise, according to this Business News Americas article quoting read the full article →

Brazil president approves rural catastrophe insurance fund

The Brazilian president Luiz Inacio Lula da Silva has signed into law a bill which will allow the creation of a catastrophe fund designed to protect the rural sector. The federal government will invest up to 4b reais ($2.27b) into the catastrophe fund through bonds, half during the first year of read the full article →