Brazil – Effective Date of Resolution No. 224/10 Postponed
On Friday, January 27, 2011, the National Council of Private Insurance (CNSP) published Resolution No. 231/11 postponing the effective date of Resolution No. 224/10 from January 31, 2011 to March 31, 2011. CNSP had previously published Resolution No. 224/10 in December, which provided that insurance risks in Brazil cannot be ceded to companies abroad that belong to the same financial group.
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