Reinsurance News
11th July 2019
Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has confirmed that shareholders BB Seguridade Participações and the Brazilian Treasury are set to sell their stakes next week in a share offering valued at 8.5 billion reais (US $2.3 billion). The pricing of the secondary share offering is expected to occur ... Read the full article
31st May 2019
Rating agency A.M. Best has upgraded the financial strength rating of Brazilian reinsurance firm IRB Brasil Resseguros S.A. to A (Excellent) from A- (Excellent), due to the company’s improved financial strength. The reinsurer’s long-term issuer credit rating was also upgraded from “a-“ to “a”, and the outlook of its credit ratings ... Read the full article
15th February 2019
Brazilian reinsurance firm IRB Brasil Re has announced a secondary share offering that is expected to raise around 2.5 billion reais ($673.27 million). The company has now confirmed reports from sources at Reuters earlier this month, who said that a government fund managed by state-run bank Caixa Economica Federal was ... Read the full article
7th February 2019
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) is reportedly preparing for a secondary share offering involving at least 9% of its capital, according to sources at Reuters. State-run bank Caixa Economica Federal is expected to sell an 8.9% stake in IRB, worth around 2.4 billion reais (US $648.4 ... Read the full article
12th April 2018
IRB International Corporation, a subsidiary of IRB Brasil Resseguros S.A. (IRB Brasil Re), has announced plans to sell its stake in United Americas Insurance Company (UAIC) for US $5.3 million to Quest Group Holdings Limited, a re/insurance market investor. IRB International has already entered a Share Purchase Agreement (SPA) with an affiliate ... Read the full article
28th July 2017
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) has priced its initial public offering, according to a report from Reuters, with the value and volume snapped up falling below expectations. The IPO pricing puts shares at 27.24 reais (US $8.64) a share on Thursday, data from the Brazilian Securities ... Read the full article
25th July 2017
Bloomberg has reported that Warren Buffett's Berkshire Hathaway is in talks to acquire a stake in Brazilian reinsurer, IRB Brasil Resseguros S.A. (IRB Brasil Re), after the Rio de Janeiro-based firm launched an initial public offering (IPO) on Friday July 7th, 2017. Reinsurance News reported that IRB Brasil Re, Brazil's largest ... Read the full article
24th July 2017
Brazilian reinsurer, IRB Brasil RE, has licensed RMS' China and India agricultural models in an effort to expand its presence in the global reinsurance market. Global catastrophe risk modeller and analytics firm, RMS, announced recently that IRB Brasil RE has licensed the RMS® China Agricultural Model and RMS® India Agricultural Model, as ... Read the full article
10th July 2017
The awaited initial public offering of Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) has now commenced, with the offering launched on Friday. IRB Brasil Re filed its official IPO prospectus with the Sao Paolo stock exchange on Friday, detailing a plan that will see some of its existing ... Read the full article
30th May 2017
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) has now registered for an initial public offering (IPO) with the Brazilian Exchange Commission (Comissão de Valores Mobiliários CVM). According to reports from three key shareholders, the applications have been filed for an initial public offering of IRB Brasil Re shares, ... Read the full article
22nd May 2017
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) is resuming the process of going public having received approval from shareholders to register for an initial public offering (IPO). The reinsurer is backed by the Brazilian government, which owns 27% of IRB Brasil Re, and a number of major financial ... Read the full article
28th February 2017
Reinsurers Korean Re and IRB Brasil Re have announced that the pair signed a memorandum of understanding (MOU) on February 24th, 2017 in Rio de Janeiro. Korean Re President Won Jong-gyu and IRB Brasil Re President Tarcisio Godoy met at Brasil Re’s headquarters in Rio to sign the MOU, ... Read the full article
