Brazil’s insurance and reinsurance regulator, the Superintendencia de Seguros Privados (Susep), recently issued a report stating that that local reinsurance companies’ earned premium for the period January 2009 to April 2009 totaled R$ 1.3 billion (approximately US$ 661 million). The former monopoly holder, IRB-Brasil Re reportedly made up more than 80% of this figure, followed by Munich Re (8.8%), JMalucelli Re (6.5%), XL Re (4.1%) and Mapfre Re (.3%).
It is important to note that these figures do not include any earned premiums as to admitted and occasional foreign reinsurers.
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