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International

Brazilian reinsurers post $79 million profit in first quarter

July 14, 2016 Reprints

According to study by Brazilian reinsurer Terra Brasis Resseguros S.A. the country's reinsurers posted an aggregate profit of 262 million Brazilian reals ($79 million) in the first quarter of 2016, up from BRL 193 million posted in the corresponding period of 2014, reported Segs.com.br.

Reinsurer IRB Brasil Resseguros S.A. dominated the market with a profit of BRL 212 million. The study found that cumulative reinsurance volume increased 10% to BRL 10.2 billion in the 12-month period ending March.

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Brazilian reinsurers post $79 million profit in first quarter

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