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RIO DE JANEIRO—Alterra Capital Holdings Ltd. has been granted approval to open a reinsurance company in Brazil.
Hamilton, Bermuda-based Alterra said in a statement that it had received final approval from the Brazilian regulator, Superintendencia de Seguros Privados, to set up Alterra Resseguradora do Brasil S.A. in Rio de Janeiro.
Carlos Caputa, CEO of Alterra’s Latin American operations, will be CEO of the new company, it said.
Alterra also has a Lloyd’s of London operation in Rio de Janeiro.