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Brazilian reinsurers merge operations, eye expansion


Brazilian reinsurers Austral Resseguradora S.A. and Terra Brasis Resseguros S.A. are merging their operations to expand their operations in South and Central America, Estadao reported. The new reinsurer's premiums will total 672 million Brazilian real ($172.5 million) with BRL 1.6 billion in assets. Bruno Freire, current president of Austral, will head the new reinsurer.

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