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International

Brazil: New rules may spur insurance growth in oil sector

September 18, 2014 Reprints

Brazilian insurance regulator Susep's new regulations on calculating premium retention rates is expected to drive insurance growth in the oil sector, BNamericas reports citing Diego Kashiwakura, an analyst at Moody's Investors Service Inc.

Existing rules in Brazil do not permit insurers and reinsurers to cede more than 50% of written premiums on an annual basis. However, the new guidelines mean that just 40% of premiums of the oil segment will be used for calculation of the limit, compared with 100% previously, reported BNamericas.

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Brazil: New rules may spur insurance growth in oil sector

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