Non-compliance What are the consequences of non-compliance with the operating requirements applicable to re insurers? Contracts General What general rules, requirements and procedures govern the conclusion of re insurance contracts in your jurisdiction? Can any terms by implied into re insurance contracts eg, a duty of good faith? Even when several law firms write on the same topic, I can often glean new viewpoints and perspectives from the different firms. Financial requirements What are the minimum capital and solvency requirements for re insurers operating in your jurisdiction?
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Reporting to Supervisors and off-site Monitoring Compulsory Reports. Election and appointment of the members of the board of directors and others councils of insurers, capitalization companies and private pension funds.
Accountability of the directors insurers, capitalization companies and open private pension funds. On alternative pension products which provisions are shield in order to protect the policyholders' interest. Modifies the Accounting rules for insurers, capitalization companies and open private pension entities. Establishes the minimum capital required for the authorization and for the operation of insurance societies and other provisions.
Rules the additional capital based on the underwriting risks of the insurance societies and other provisions. Rules the requirement and the authorization by the supervised market to SUSEP for the access to information of direct investments or of investments in the portfolio of special constituted investment funds in the assets register and assets financial liquidation systems authorized by the Central Bank of Brazil or in Institutions authorized by the Securities and Exchange Commission of Brazil to provide custody services.
On the adjusted net equity required from insurance, capitalization and open complementary pension companies, constituted as stock corporations, and other subjects. Rules the broker's activities life and non-life brokers, capitalization brokers and open private pension brokers.
Rules the reinsurance, retrocession and its intermediation policies, the coinsurance operations, the consumption of insurance abroad and the transactions in foreign currency. Establishes transitory rules for the IRB Brasil Re reinsurance and retrocession operations, for the acquisition of reinsurance directly or through brokers, for the acquisition of reinsurance in foreign currency.
Rules the acquisition of insurance in foreign currency and the cross-border acquisition of insurance. Provides about minimum capital requirements for authorization and operation of local reinsurance companies and other subjects. Provides about the additional capital based on underwriting risks of local reinsurers and other subjects. Sets up rules and procedures to the establishment of the technical reserves of local reinsurance companies.
Sets up rules and procedures to the establishment of retention limits for local reinsurance companies. Consulta de Produtos. Atos Normativos. Main Rules by Subject. Rules the Reinsurance, retrocession and its intermediation policies, the coinsurance operations, the consumption of insurance abroad and the transactions in foreign currency.
Establishes the minimum requirements and procedures for the constitution, authorization to operate, transfer of control, societary reorganization and cancellation of the authorization to operate of the companies specified in the resolution.
Changes in Control and Portfolio Transfers. Corporate Governance and Internal Controls. Establishes rules for the remittance of the technical note of the insurance plans portfolio. Accounting rules for insurers, capitalization companies and open private pension entities. Technical Provisions for insurers, capitalization companies and open private pension entities. Rules the registration, custody and transfer of securities and exchanges linked to provisions.
Provides about reinsurance and retrocession activities and their brokerage and other provisions.
Insurance & Reinsurance in Brazil
Please contact customerservices lexology. What are the current trends in and future prospects for the insurance and reinsurance markets in your jurisdiction? In the insurance and reinsurance market, the existing trends show moderate and continuous growth. This scenario will remain until at least the end of In more robust growth is expected as low inflation and falling interest rates are predicted, which increase credit and suggest a favourable outlook for the insurance market. The reinsurance market is expected to follow the same trend.
Circular Susep No 249
CIRCULAR SUSEP 249 PDF
(Only Portuguese versions)