Swiss Re applies for local reinsurance registration in Brazil
25 August 2011, Sao Paulo
Swiss Re announced it has submitted an application to the Superintendence of Private Insurance (SUSEP) for a local reinsurance registration.
Swiss Re views a Brazilian reinsurance registration as a local reinsurer as the next step in its continued dedication to its clients and the Brazilian insurance market. The local registration will allow Swiss Re to participate fully in the Brazilian market and service a wider spectrum of clients and risks while being an active player in future market developments.
Swiss Re’s commitment to Latin America began 100 years ago and it serviced the Brazilian market since 1924. It opened its São Paulo office in 1996.
“Brazil is a key growth area for Swiss Re. The economic expansion coupled with large infrastructure projects to support this growth, the World Cup, and Olympics have increased the need for risk management support,” said Rolf Steiner, Swiss Re Region Head of Brazil and Southern Cone Reinsurance. “As a global re/insurance leader, Swiss Re has the expertise and capacity to serve the growing demand in this thriving region. With 100 years of service to the Latin American market, we have seen Brazil evolve as a leader and we view the local registration status as further evidence of our support for our clients,” he added.
Notes to editors
Swiss Re Ltd
Swiss Re Ltd is the holding company for the Swiss Re Group. Its shares are listed on the SIX Swiss Exchange and trade under the symbol SREN.
Swiss Reinsurance Company Ltd
Swiss Reinsurance Company Ltd is a leading and highly diversified global reinsurer and part of the Swiss Re group of companies. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Reinsurance Company Ltd is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
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