Brazil formalises ILS and special purpose reinsurance vehicle rules


Brazil has now published its awaited rules on insurance-linked securities (ILS) issuance and special purpose reinsurance vehicles, which are due to come into force from January 4th 2021 bringing domestic ILS capabilities to its marketplace.

As we’ve documented previously, the insurance and reinsurance market regulator, the Superintendência de Seguros Privados (Susep), had been seeing feedback on a framework for legislation and a regulatory regime to allow for the issuance of insurance-linked securities (ILS) in Brazil.

As we also previously reported, Brazil’s regulator, Susep, had also called for the local insurance and reinsurance sector to embrace transparency to support these ambitions of enabling ILS to be issued domestically.

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