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IRB Brasil's chief executive steps down

Posted On: Nov. 18, 2022 9:10 AM CST



Brazil-based reinsurer IRB Brasil Resseguros SA’s chief executive Raphael de Carvalho has resigned after just over a year in the position, following a difficult few months at the reinsurer, Nasdaq reported citing Reuters. In the third quarter, the reinsurer nearly doubled its net loss on a yearly basis after climate issues affected its rural insurance business.