SAO PAULO -(Dow Jones)- Brazilian bank Banco Unibanco (UBB) acquired certain local assets of American International Group Inc. (AIG) for $820 million, the bank said in a statement Wednesday night.
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RIO DE JANEIRO, Brazil—Lloyd’s of London announced it has received approval to become the first admitted reinsurer in Brazil.
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Munich Re announced that, following the opening of the Brazilian reinsurance market, it plans to establish a subsidiary in São Paulo.
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Fitch Ratings said the main changes introduced by Resolutions of Brazil's National Private Insurance Board regarding the reinsurance and retrocession should benefit the insurance industry as the new framework presents some restrictions.
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