DECREE Nº 6.499, OF 01.07.2008 (versão em inglês/LegisMap)

DECREE Nº 6.499, OF 01.07.2008

Provides for the upper limit of cession and retrocession to eventual reinsurers, as mentioned in paragraph 1 of the Art. 8 of the Complementary Law nº 126, of 15 January 2007.

The President of the Republic, in the exercise of the powers granted by art. 84 subsection IV, of the Constitution, and considering the established in paragraph 1 of the Art. 8 of the Complementary Law nº 126, of 15 January 2007,

Decrees:

Art. 1 – The insurance companies or cooperatives are allowed to cede to eventual reinsurers up to ten percent of the total volume of their premiums ceded in reinsurance, considering their total volume of operations in each calendar year.

Sole Paragraph – The insurance supervisory entity is authorized to set up, in the form of a specific and substantiated act, the branches and forms to be distinguished with a percentage higher than the one appointed in the head of this article.

Editora Roncarati’s Note: Regarding the branches of public obligations guarantee and oil risks, see Resolução CNSP nº 203, de 27.04.2009.

Art. 2 – The upper limit a local reinsurer is allowed to cede to eventual reinsurers is fifty percent of its total volume of written premiums concerning the risks it has underwritten, considering the total volume of its operations in each calendar year.

Art. 3º -This Decree comes into force on the date of its publication.

Brasília, 1 July 2008; 187th of the Independency and 120th of the Republic.

LUIZ INÁCIO LULA DA SILVA
Guido Mantega

(Official Gazette DOU of 02.07.2008)

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