ANNOUNCEMENT 31 Mar 2011

In March 2011, the government of Brazil announced a change in the required local operations to serve domestic customers.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 31 Mar 2011 | Removal date: open ended
Still in force

Local operations

In December 2010 and March 2011, the Brazilian National Council on Private Insurance (CNSP) issued Resolutions no. 225 and 232, respectively, on foreign insurance firms. Resolution no. 225 stipulated that foreign insurers must contract local reinsurance companies for at least 40 per cent of the reinsurance risk, whereas Resolution no. 232 forbids local insurance and reinsurance companies to transfer more than 20 per cent of the risk to companies headquartered abroad.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A