Brazilian reinsurers post $79 million profit in first quarter
Posted On: Jul. 14, 2016 12:00 AM CSTAccording 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.