Pandemic-ridden Brazil inserts itself in the international context of reinsurance

The two major reinsurers, Swiss Re and Munich Re, have each reported losses of nearly US$4 billion from the pandemic in 2020.

RIO DE JANEIRO, BRAZIL - The pandemic brought significant losses for reinsurers, responsible for paying the excess losses of insurers. And this results in higher rates, deductibles, and tougher conditions, with exclusions. In Brazil, besides the impacts of the international scenario, the regulatory framework is under revision by the Superintendency of Private Insurance (SUSEP).

"In almost all of the reinsurance contracts that we are renewing, there is a request for the inclusion of a clause that excludes transmissible diseases, increases in rates, and in deductibles," says Juliana Kazumi Chen, responsible for reinsurance at Fator Seguradora. The main readjustments are in financial . . .

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