- The move by Susep - Brazil's insurance regulator - allows Berkshire Hathaway (BRK.A, BRK.B) to operate in the country as an "eventual reinsurer," i.e. to do business there without having a representative office.
- In Brazil, there are three classes of reinsurers - local, admitted, and eventual. Eventual reinsurers must have global net assets of at least $150M and be rated a notch above the minimum investment-grade rating.
at CNBC.com (Tue, 6:00PM)