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THE SUPERINTENDENT OF THE PRIVATE INSURANCE SUPERINTENDENCY - SUSEP, in the use of the powers conferred on him by art. 36, paragraph "b", of Decree-Law 73, of 21 November 1966, considering the provisions of art. 3, sole paragraph, of Complementary Law 126, of 15 January 2007, CNSP Resolution 451, of 19 December 2022, and what is contained in Susep File 15414.635856/2021-49, resolves:
Art. 1 - Amending the contents of Susep Circular 683, of 19 December 2022, which shall come into force with the following changes:
"Provides for the operational procedures for the preferential offer of risks to local reinsurers, for proving the insufficient supply of capacity of local and foreign reinsurers for the purpose of transferring risks with reinsurers not authorised to operate in the country, for contracting insurance abroad and establishes a deadline for the submission of requests for authorisation by local reinsurers for cession in a percentage higher than the annual retrocession limit provided for in the legislation." (New Wording).
Art. 2 - Amending Susep Circular 683, of 2022, which shall come into force with the following changes:
"Art. 1...................................
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II - proof of insufficient capacity on offer from local and foreign reinsurers for the purposes of transferring risks with reinsurers not authorised to operate in the country;
III - contracting insurance abroad; and
IV - the submission of requests for authorisation by local reinsurers for cession in excess of the annual retrocession limit provided for in the legislation." (New Wording)
"Art. 16 - A. Local reinsurers must submit to Susep, when applicable, the request for authorisation for cession in a percentage higher than the annual retrocession limit provided for in the legislation by the last working day of November of the calendar year to which the request refers." (New Wording)
Art. 3 - This Circular comes into force on 1 September 2023.
ALESSANDRO SERAFIN OCTAVIANI LUIS
(Official Gazette DOU of 28 July 2023 - page 41 - Section 1)
