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Berkshire granted reinsurance license in Brazil

  • 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.
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  • Jalb
    , contributor
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    Sensible
    22 May, 09:53 AM Reply Like
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