brazil

Ariel Sociedade Seguradora de Propósito Específico S.A. (Ariel SSPE), the insurance-linked securities (ILS) platform in Brazil, has announced that it has appointed Laercio Vicente to its executive team, who brings direct experience in structuring Brazil’s Letras de Risco de Seguro (LRS, Insurance Risk Letters), the country’s unique ILS instrument.

After working with Gálapagos Capital SSPE on a recent R$126 million offering of Insurance Risk Letters (LRS), Avla Brazil CEO Felippe Astrachan has said that LRS opens a door that allows the company to explore different types of risks that are not traditionally covered by the insurance and reinsurance market, while also remaining optimistic about […]

Gálapagos Capital Sociedade Seguradora de Propósito Específico S.A., the Brazil based SSPE or special purpose reinsurance vehicle that can issue Letra de Risco de Seguro (Insurance Risk Letters) and is owned by global investment company Galapagos Capital, has completed issuance of the largest transaction under Brazil’s insurance-linked securities regime so far.

Ariel Sociedade Seguradora de Propósito Específico S.A. (Ariel SSPE) will be the third insurance-linked securities (ILS) structure in Brazil, harnessing the country’s regulations to become an independent issuer of Letra de Risco de Seguro (Insurance Risk Letters), Brazil’s own brand of ILS instrument.

Lockton Re, the reinsurance arm of the independent broking group, has announced the full deployment of its advisory and structuring capabilities dedicated to Brazil’s Letra de Risco de Seguro (LRS /Insurance Risk Letters) market, utilising locally licensed Special Purpose Securitisation Entities (SSPE).

Gálapagos Capital Sociedade Seguradora de Propósito Específico S.A., the Brazil based SSPE or special purpose reinsurance vehicle that can issue Letra de Risco de Seguro (Insurance Risk Letters) and is owned by global investment company Galapagos Capital, has now issued its second arrangement under the Brazilian insurance-linked securities regime.

According to Fitch Ratings, recent catastrophe bond and insurance risk letters (LRS) issuances within Latin America represent a strategic opportunity to expand and sophisticate the regions’ insurance debt market.

Global investment company Galapagos Capital has announced the issuance of up to R$100 million in Insurance Risk Letters (LRS), which are the Brazilian regulatory regime version of insurance-linked securities (ILS), marking the second ever ILS issuance in Brazil, and the first from Galapagos Capital.

Insurance and reinsurance broking firm Aon has structured and placed the first and largest parametric forest fire insurance policy ever undertaken in Brazil, developed for stationery manufacturer Faber-Castell.

Following the completion of Brazil’s first-ever insurance-linked securities (ILS) issuance earlier this year, analysts at Fitch Ratings have highlighted how the country’s ILS framework marks the beginning of a new chapter for its re/insurance market.