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| Sao Paulo centre © Ana Paula Hirama, CC BY-SA 2.0 |
The licence granted by the Brazilian authorities is an important step for the firstAfrican reinsurer who will open, thus, to a leading emerging market.
On the South American continent, Africa Re will be supported by one of its shareholders and local partner IRB- Brazil Re. According to the Brazilian legislation, an occasional reinsurer is not required to have a local office. The direct insurance companies can not cede it him more than 10% of their premiums.
