Our story in Brazil
Lloyd’s is licensed by SUSEP (the Brazilian regulatory authority) as an Admitted Reinsurer with a representative office in Rio de Janeiro. All Lloyd’s Managing Agents can write reinsurance business from Brazil under the Lloyd’s license.
An Admitted Reinsurer status means a foreign reinsurer doing business with Brazilian companies (Brazilian Insurance Companies or Local Reinsurers) on a cross border basis.
For additional information regarding Lloyd’s licence in Brazil, please access: Lloyd’s Brazil at 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.
Our solutions in Brazil
Lloyd’s is registered as an admitted 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 Admitted or Occasional Reinsurers (“Non-Brazilian Reinsurers").
For more information please see Crystal.
- Accident & Health
- Agriculture & Hail
- Difference in Conditions
- Directors & Officers
- Extended Warranty
- Financial Institutions
- Fine Art
- Lega Expenses
- Livestock & Bloodstock
- Medical Expenses
- Medical Malpractice
- General Liability
- Personal Accident XL
- Political Risks, Credit & Financial Guarantee
- Power Generation
- Professional Indemnity
- Term Life
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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.