Foreign companies line up to enter Brazilian reinsurance market

Companies are emphasising the provision of risk management consulting services as much as the provision of reinsurance capacity to the Brazilian primary insurance market

Between 15 and 25 foreign companies are reported to have applied for permission to enter the Brazilian reinsurance market which was opened to foreign companies on 17 April. With a premium income of around US$13.0bn in 2006, Brazil is the largest insurance market in Latin America.