IRB Brasil RE, formerly known as the Reinsurance Institute of Brazil (corporate name: IRB Brasil RE) operates in the market for reinsurance. Created in 1939 by Getúlio Vargas, IRB was intended to provide reinsurance to domestic companies through the company itself and its policy of retrocession, where most of the risk was shared between the national insurance companies. It maintained its monopoly until 2007, when, through Complementary Law, Congress reopened the Brazilian reinsurance market, and IRB was classified as a local reinsurer. More information...
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