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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.

For additional information regarding Lloyd’s licence in Brazil, please access Crystal.

If you are a Lloyd’s Managing Agent or Lloyd’s Broker planning a business trip to Brazil please get in touch. Lloyd’ has a well-equipped office in Rio de Janeiro and the Lloyd’s Brazil team will be happy to assist you.

See below the contact details for Lloyd’s in Brazil.

Our solutions in Brazil

Lloyd’s is registered as an Occasional Reinsurer in Brazil. This registration enables Lloyd's 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 reinsurers prior to placing the risk with an Admitted or Occasional Reinsurer (“Non-Brazilian Reinsurers").

For more information please see Crystal.

  • 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

Tools and resources

Crystal

Get quick and easy access to regulatory and taxation requirements in [country] with the Crystal tool

Risk locator

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

Contact us

Marco Antonio de Simas Castro is the President & General Representative of the Lloyd’s Representative office in Brazil since 2008 when Lloyd’s received its license in the country as an Admitted Reinsurer.

Marco Castro has over 35 years of experience in the insurance and reinsurance industry, having also worked for Itaú Insurance Company, Willis Reinsurance Brazil and VARIG Brazilian Airlines.

Marco Castro has a Master Business Administration degree from Universidade Federal Fluminense in Rio de Janeiro, Bachelor degree in Business Administration from Universidade Cândido Mendes in Rio de Janeiro and attended several specialization courses in Brazil and abroad.

Marco Castro is a member of the Lloyd’s Senior Leadership Team and Vice-President of FENABER - Brazilian Reinsurance Companies Federation.

Marco Castro

Lloyd’s Escritório de Representação no Brasil
Avenida Almirante Barroso 52, Sala 2401
CEP 20031-918 - Rio de Janeiro, RJ - Brazil