Insurers and reinsurers operating in Brazil face considerable uncertainty amid competing reform proposals that could have a significant – and potentially detrimental – impact on the sector

Compliance with new EU regulations on the use of artificial intelligence technology will be costly and time consuming, although experience of dealing with other regulatory initiatives should ease the burden for insurance businesses

Insurance surcharge will increase next year in the first of an expected wave of changes that aim to guarantee the system’s financial health as losses pile up

In the wake of a scandal, the Brazilian reinsurance giant undertook a dramatic overhaul. After reporting a return to profit in 2023 the company is now looking for new opportunities in Europe and Latin America, its chief reinsurance officer says

New public procurement regulations coupled with large government-backed infrastructure investment plans in Brazil are expected to increase demand for surety bonds, but underwriters are cautious 

Buyers complain adequate cover is hard to find, while underwriters want greater transparency and to be more involved in projects