Reinsurance News
Austral Re
Austral Re sees record net profit of BRL 75m in 2024
1st April 2025
Austral Re has reported a record net profit of BRL 75 million for 2024, an increase of 155% compared to 2023. The firm stated that this record was achieved despite the catastrophic scale of flood losses in Rio Grande do Sul, showcasing its resilience and operational efficiency. Austral Re highlighted that, ... Read the full article
Austral Re reports strong growth in LatAm surety insurance market
22nd November 2024
Brazilian reinsurer Austral Re has achieved steady growth since launching its strategic plan for Guarantee Insurance in Latin America (LatAm) two years ago, with subscribed premiums reaching R$ 100 million by September and an expected R$ 110 million by year-end, a 40% increase from the previous year. Austral Re operates in ... Read the full article
Austral Re sees net profit growth in H1’24 despite impact of floods in Rio Grande do Sul
20th August 2024
Brazilian reinsurance company Austral Re has announced its financial results for the first half of 2024, reporting a net profit of R$ 27.7 million (USD 5m) and a 13% increase in gross reinsurance premiums (GRP) compared to the same period in the year prior. Despite the negative impact the Rio Grande ... Read the full article
Dynamic Re adds capacity agreements with Liberty, AXA XL & Austral Re
13th February 2024
Dynamic Reinsurance, an underwriting agency registered in the United States, has entered into reinsurance agreements with Liberty, AXA XL, and Austral Re. Liberty, AXA XL and Austral Re have all been added to the company's panel of reinsurers. According to Dynamic Re, this collaboration marks a significant enhancement in the company's capacity ... Read the full article
AM Best upgrades Austral’s credit ratings, revises outlook to stable
4th May 2023
AM Best has upgraded the credit ratings of Austral Resseguradora S.A. (Austral Re) and Austral Seguradora S.A. Concurrently, and revised their outlooks to stable from positive. The credit rating agency has assigned the companies a Financial Strength Rating A- (Excellent), upgraded from B++ (Good); and the Long-Term Issuer Credit Ratings (Long-Term ... Read the full article
Austral Re acquires Markel Brazil businesses
1st June 2021
Brazilian reinsurance company Austral Re has acquired the run-off reinsurance operations of Markel Resseguradora do Brasil, and its parent company Markel Participações (Markel Brasil), with the value of the deal not currently being disclosed. This marks Austral’s second acquisition within the last two years, as the reinsurer expands through the South ... Read the full article
Austral Re & Terra Brasis commence operations after merger
4th December 2019
Brazilian reinsurance companies Austral Re and Terra Brasis have commenced their operations as a combined entity following a merger between the two firms. The new company, whose brand is still under development, has offices in Rio de Janeiro, Sao Paulo and Bogota. Austral Re and Terra Brasis claim that the combined ... Read the full article
Portfolio mix, geographic reach to strengthen Austral Re – Terra Brasis Re
17th June 2019
The recently announced merger of the activities of Austral Re and Terra Brasis Re, is expected to result in a competitive new reinsurer, underpinned by a broader product set and improved geographical reach. An investment agreement to merge the two Brazilian reinsurers was announced last week, a union which is ... Read the full article
Brazilian reinsurers Terra Brasis Re & Austral Re to merge
14th June 2019
Reports have revealed that Brazilian reinsurance companies Terra Brasis Re and Austral Re have now agreed to a merger, which is set to create the second largest reinsurer in Brazil. Reinsurance News reported in August of last year that the two companies were in talks over a potential merger. At ... Read the full article
Brazilian reinsurers Terra Brasis & Austral reported to discuss merger
23rd August 2018
Two domestic Brazilian reinsurance firms are reportedly in merger discussions, with the respective owners of Terra Brasis Re and Austral Re said to be keen on a deal. Austral Re's investment firm owners Vinci Partners have been looking for an exit since the beginning of the year, it's said, while Terra ... Read the full article
Austral Re seeks LatAm & international expansion
6th October 2017
Brazilian reinsurance firm Austral Re is seeking to add diversification to its business model with greater expansion into Latin America and other regions internationally as well. Austral Re, which is partly backed by the World Bank's International Finance Corporation (IFC) as a shareholder, has been expanding out of its home country ... Read the full article
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