The Brazilian Superintendence of Private Insurance (SUSEP) took part in the inaugural virtual meeting of the BRICS Reinsurance Task Force, continuing cooperation workstreams developed under Brazil’s BRICS presidency and follow-ups from July discussions in Rio de Janeiro. The meeting was structured around two panels. Discussions covered market structure and current conditions in (re)insurance, including financial volatility and emerging risks such as cyber, climate-related and geopolitics-driven risks, and then moved to bilateral and plurilateral cooperation initiatives that could strengthen (re)insurance capacity across member countries. Participants also highlighted differences in regulatory, legal and tax frameworks, and noted uneven engagement across members, with some participating actively and others remaining observers. The task force was agreed by BRICS leaders and reflected in the Rio de Janeiro Declaration of the XVII BRICS Summit and a joint declaration by finance ministers and central bank governors, with a mandate to continue the work through the end of 2025.

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