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Opening Brazil’s reinsurance market

On January 15, Luiz Inácio Lula da Silva, president of Brazil, enacted the supplementary law that provides for the opening of the Brazilian reinsurance market to competition, and the specific regulation for the entry of new players into the market will likely be issued by the national private insurance council (Conselho Nacional de Seguros Privados [CNSP]) in the days to come.

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