RESOLUTION CNSP Nº 203, OF 27 APRIL 2009 (versão em inglês/LegisMap)

RESOLUTION CNSP Nº 203, OF 27 APRIL 2009

Provides for the upper limit of cession to eventual reinsurers, as mentioned in Art. 1 of Decree nº 6.499, of 1st July 2008, and amends the head of article 37 of Resolution CNSP nº 168, of 17 December 2007.

THE SUPERINTENDENCY OF PRIVATE INSURANCE - SUSEP, in the exercise of the powers granted by art. 34, item XI, of Decree No. 60.459, of 13 March 1967, and considering the contained in CNSP Process nº 11, of 3 September 2008, originally, and SUSEP Process nº 15414.001020/2009-50, announces that the Superintendent of SUSEP, subject to reference to the National Council of Private Insurance - CNSP, under the terms of Art. 5, paragraph 1 of the Internal Rules approved by Resolution CNSP nº 111, of 2004, based on items II, VI and VII of article 32, of Decree-law nº 73, of 21 November 1966, and in the provisions of Complementary Law nº 126, of 15 January of 2007, and in the sole paragraph of article 1 of a href="/component/content/?view=aricle&id=58478:DECREE-Nº-6-499,-OF-01-07-2008&catid=1612:LAWS-TRANSLATED&Itemid=122"="Decree nº 6.499, of 1 July 2008,

Resolved:

Art. 1 – The insurance companies or cooperatives are allowed to cede to eventual reinsurers up to twenty-five percent of the total volume of their premiums ceded in reinsurance in the branches of public obligations guarantee and oil risks, considering their total volume of operations in those branches in each calendar year.

Sole paragraph – In the case of the insurance companies or cooperatives that exercise the option for the limit granted in the head of this article, the limit established by Art. 1 of the Decree nº 6.499, of 1 July 2008, applies only to the other insurance branches and forms operated by them.

Art. 2 – The head of the article 37 of CNSP Resolution nº 168, of 17 December 2007 is amended as follows:

“Art. 37 - The contractual formalization of the reinsurance operations must take place in up to 270 (two hundred and seventy) days from the beginning of the coverage effectiveness, resulting in the coverage being not valid, for all means and purposes, since its beginning, if this deadline is not complied with.”

Art. 3 – This Resolution comes into force on the date of its publication.

Armando Vergilio dos Santos Júnior
Superintendent

(Official Gazette DOU of 29.04.2009 - page 25 - Section 1)

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