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Welcome to Lloyd's in Brazil

Our story in Brazil

After the end of the state reinsurance monopoly, Brazil liberalized the reinsurance market in January 2007, with the enactment of Complementary Law no. 126/07, known as the Reinsurance Law.

The new law created three different categories of reinsurer, with different levels of market access: local, admitted and occasional.

Lloyd's was the first foreign reinsurer registered in Brazil in 2008, with a representative office in Rio de Janeiro, and Lloyd's underwriters can accept all types of reinsurance, except for endowment life insurance and supplementary pension plans.

On December 30, 2021, Lloyd's obtained authorization from SUSEP to change the category of its license for reinsurance and retrocession in Brazil, starting to operate as an occasional reinsurer.

Our choice for this change is exclusively due to the convenience of managing Brazilian regulatory requirements, which are greatly simplified for the occasional reinsurer category, without having a practical impact on the access of reinsurance cedants, retrocedants and brokers to the Lloyd's market.

Our commitment to supporting the Brazilian insurance and reinsurance market remains unchanged.


Our solutions in Brazil

Lloyd’s is registered as an occasional reinsurer in Brazil. This registration enables our underwriters to write reinsurance business on a cross-border basis only, as per the provisions outlined below:

Lloyd's underwriters can write all classes of reinsurance, except for endowment life insurance and supplementary pension plans. Brazilian cedents are required to make a “preferential offer” i.e., a right of first refusal on a minimum of 40% of each reinsurance risk - to local licensed reinsurers - prior to placing the risk with a foreign licensed reinsurer (admitted or occasional).

If you are a Lloyd’s Managing Agent or Lloyd’s Broker planning a business trip to Brazil, please get in touch. We have an office in Rio de Janeiro and the Brazilian team will be happy to assist you.

Accident & Health
Agriculture & Hail
Aviation
BBB/Crime
Casuality
Contingency
Cyber
Difference in Conditions
Directors & Officers
Employers
Liability
Energy
Engineering
Extended Warranty
Financial Institutions
Fine Art
Lega Expenses
Livestock & Bloodstock
Marine
Medical Expenses
Medical Malpractice
Motor
General Liability
Nuclear
Pecuniary
Personal Accident XL
Political Risks, Credit & Financial Guarantee
Power Generation
Professional Indemnity
Property
Space
Specie
Term Life
Terrorism
Yacht


Contact us

The Lloyd’s team in Brazil plays an important role in the promotion and management of Lloyd’s brand as well as the regulatory and compliance requirements for Lloyd’s in the Brazil market.

Please note: The Lloyd’s Brazil offices do not underwrite, quote or issue insurance or reinsurance policies. If you have a question about your Lloyd’s policy, please contact your insurance/reinsurance broker.

Lloyd’s Brazil

Praça XV de Novembro, 20 – 5º andar
CEP 20010-010 - Rio de Janeiro, RJ – Brazil

Market Intelligence

Analysis of the Brazilian insurance industry, for the benefit of Lloyd’s managing agents, brokers and coverholders to help develop business internationally.

Placing risk

How to place a Brazillian risk at Lloyd's.

Tools and resources

Crystal

Get quick and easy access to regulatory and taxation requirements in Brazil with the Crystal tool.

Risk Locator

Guidance on identifying the location of risk for regulatory and tax purposes.