Brazil: Reinsurance market registers 21% growth

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The reinsurance market in Brazil is expanding, with the volume of reinsurance ceded by insurers, gross of commissions, reaching 7.85 billion Brazilian reals ($3.3 billion) in 2013, up 21% year on year, an analysis has shown.

Of this, the analysis said, the volume placed with local reinsurers totaled BRL 4.99 billion, up 28.5%, reports Local reinsurers' market share in 2013 was 64%. The sector's combined ratio was 103%.

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