Changing Markets in Brazil
The insurance market in Brazil is expected to grow by around 20% in 2010, which obviously attracts attention. At the same time, the market is undergoing major changes.
Allowing foreign entrants has resulted in a number of new registrations of foreign insurers in Brazil. The latest phase of opening the market to foreign insurers is the reduction of the right of first refusal in favour of local reinsurers, which has now been reduced from 60% to 40% as from the 16th of January 2010.
If in Brazil
At If we are in the process of registering If as an ”eventual reinsurer” with SUSEP, the Brazilian regulator. The registration will give us the right to reinsure Brazilian insurance business and the possibility to cede premiums back to our Nordic countries and captive clients.
It is important to bear in mind that this is a developing market, new processes are required to meet with the changes in the market regulations and a lot of attention and planning is essential to successfully bring Brazil into a global program.
We at If are now working closely with our registration and our partners in order for us to be able to assist our clients in the best possible way.
Sofia ErikssonRegional Manager, International Operations
Global claims handling with a Nordic touch
For a client a claim is often the moment of truth, the time when they need the most help from their insurer. For us, it is an opportunity to show the high service level our International Claims Team provides.
If Industrial – Underwriting Capabilities
Underwriting is the practice of selecting and pricing risks. In addition, a good underwriter offers experience, knowledge and financial stability to his or her clients. As the leading insurer in the Nordic area we have the ambition to exceed your expectations even further in the future.
Deliveries to exotic countries
Business is done where business is, and to many of our customers that means remote places and exotic countries all around the globe. Transportation risks can however be covered just about anywhere in the world.
