Advertise
Resources
Member, Beacon International Group, Ltd.
The Brazilian insurance market has the potential to become a more prominent international insurance center, according to Moody's Investors Service.
The market is well developed in bancassurance, Moody's said, and economic growth is increasing demand for property/casualty insurance. The rating agency said that the market has experienced consolidation in recent years and noted that foreign insurers also increasingly are participating in the market.
Moody's said it believed that the country may open up to foreign reinsurerscurrently only the statecontrolled Instituto de Resseguros do Brasil is able to write reinsurance in Brazil.