XL Re Sets Up in Sao Paulo

XL Re Sets Up in Sao Paulo

Brazil

XL Re, the global reinsurance operations of XL Capital, has received regulatory approval to serve the Brazilian insurance market as a local reinsurer incorporated in Brazil and regulated by Brazilian authorities. In June, XL Re was approved to operate as an admitted reinsurer, incorporated and regulated outside Brazil, but with local representation. XL Re Brazil will have full offices in Rio and Sao Paulo under regional operating officer Carlos Caputo. "This approval signals the beginning of XL

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