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.