Collins, Especializada Re Form Brazil Partnership

Minneapolis-based Collins and Brazil’s Especializada Re have entered into an agreement under which the two companies will serve as exclusive correspondent brokers for the placement of reinsurance for insurance companies based in Brazil.

Under the agreement, Especializada Re will work directly with insurers and reinsurers operating in the Brazilian market. Collins, in turn, will serve as a consultant to the newly established Brazilian reinsurance broker.

“On July 16, Especializada Re received approval from Superintendencia de Seguros Privados (SUSEP), Brazil’s superintendent of private insurance to operate as a reinsurance broker in that country,” said the announcement. “Earlier this year, SUSEP issued final regulations for the opening of Brazil’s reinsurance market to private companies, ending the monopoly of government-owned reinsurer IRB Brasil Resseguros SA (IRB).”

Ricardo Rodrigues da Silva, president of Especializada Re, commented: “Under this partnership, we are well-equipped to serve companies in all lines of insurance in Brazil. Collins brings a successful track record in the world’s reinsurance markets and strong expertise in providing reinsurance brokerage services to a wide range of insurers.”

Collins President and CEO Patrick (Pat) Denzer added: “We welcome the opportunity to help serve the dynamic, newly opened Brazilian reinsurance marketplace with an experienced and knowledgeable local partner. From their prior experience as insurance brokers, the founders of Especializada Re have a strong reputation for their technical experience and high professional standards among insurers in Brazil.”

Source: Collins- www.collins.com