Description: This article explains the change in reinsurance in Brazil to an open market and why Rio de Janeiro should be the center of Brazil's reinsurance market. Prior to January 2008, all reinsurance was through the IRB, The Brazilian Reinsurance Institute founded in 1939 and jointly owned by the insurance companies that are licensed to do business in Brazil and by the Government of Brazil.

Description: The transition to an open reinsurance market was made possible by a new regulatory environment effective 2007. The author believes Rio de Janeiro is the best location for entering reinsurance companies to establish their headquarters.