UIB is registered to operate as a reinsurance broker to Brazil’s IRB Brasil Resseguros

United Insurance Brokers group (UIB) today announced the unveiling of a new reinsurance broking operation in Brazil, called UIB Consultoria e Participações do Brasil Ltda.

The business will focus on Non Life, Life and Private Pension Plans, Health and Capitalization risks for 160 (approx) insurance companies currently operating in the local market.

UIB is registered to operate as a reinsurance broker to Brazil’s IRB Brasil Resseguros (IRB).

So far IRB is the only authorised local reinsurer and is expected to maintain a large part of the premiums underwritten in the market over the short and medium terms.

“This is a significant step for our growth in the region,” said Philip Tuite-Dalton, COO of UIB.

“The Brazilian economy has stabilised and is now growing at a healthy rate. We believe that UIB’s professionalism and access to the global marketplace will be very attractive to clients who will benefit from the local service that the new venture offers.”

The office, located in downtown Rio de Janeiro, will be managed by Victor Maia, Ana Paula Senra de Oliveira and Fabio Alves. UIB also plans to open offices in Sao Paulo later this year.