The Brazilian Superintendence of Private Insurance (SUSEP) used a sector event on the new Complementary Law 213/2025 to explain how the new legal framework brings mutualistic patrimonial protection groups and insurance cooperatives within the National System of Private Insurance, including through prior authorisation and ongoing supervision. The law expands the scope for insurance cooperatives, allowing them to operate across all lines of private insurance subject to specific restrictions, and creates administrators of mutualistic patrimonial protection operations responsible for managing members’ interests under SUSEP authorisation and oversight. It also embeds consumer protection and socio-environmental and climate sustainability principles, provides for supervision proportionate to size, risk profile and systemic relevance, and strengthens the sanctions regime, with fines that can reach BRL 35 million and stricter penalties for directors who breach sector rules. SUSEP highlighted that vehicle protection associations must complete mandatory registration within the legal six-month deadline and indicated that forthcoming regulation will include public consultations as part of a “democratic” rulemaking process.
Brazilian Superintendence of Private Insurance (SUSEP) 2025-04-29
Brazilian Superintendence of Private Insurance highlights six-month registration requirement and upcoming rulemaking for mutualistic protection groups
The Brazilian Superintendence of Private Insurance (SUSEP) detailed the new Complementary Law 213/2025, integrating mutualistic patrimonial protection groups and insurance cooperatives into the National System of Private Insurance. The law expands insurance cooperatives' scope, introduces mutualistic operation administrators, and emphasizes consumer protection and sustainability, with fines up to BRL 35 million for non-compliance. SUSEP also noted mandatory registration for vehicle protection associations and plans for public consultations in future regulations.