The Brazilian Superintendence of Private Insurance (SUSEP) issued an ordinance establishing a working group to develop proposals for the regulation of Complementary Law No. 213/2025, covering topics including insurance cooperatives, mutual property protection operations, and SUSEP’s administrative sanctioning process. The working group will be organised into three subgroups focused on insurance cooperatives, mutual property protection operations, and the sanctioning regime. Work will be led by seven SUSEP general coordinators with additional staff, and the group may engage external stakeholders as needed. Complementary Law 213/2025 expands the lines of business available to insurance cooperatives to any private insurance line unless specifically prohibited by regulation, creates company administrators for mutual property protection operations that associations must contract, and makes these new entrants subject to prior SUSEP authorisation under the regulatory and supervisory powers of the National Council of Private Insurance and SUSEP. The ordinance sets a one-year deadline from its publication to complete the work, with an automatic extension for the same period possible if duly justified, and the initiative is part of SUSEP’s 2025 Regulatory Plan. The law also introduces tools including terms of commitment and precautionary measures and provides for sanctions such as disqualification for two to 20 years and fines of up to BRL 35 million.

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