To promote a stable and growing (re)insurance marketplace Brazil should improve its compliance with certain insurance core principles, according to “Brazil: Detailed Assessment of Observance of Insurance Core Principles of the International Association of Insurance Supervisors,” a report by the International Monetary Fund.
Insurance trade organizations, including the American Council of Life Insurers, American Insurance Association, Association of Bermuda Insurers & Reinsurers, General Insurance Association of Japan, Property Casualty Insurers Association of America, Reinsurance Association of America, and The Council of Insurance Agents & Brokers, welcomed the findings and issued the following joint statement:
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