The Brazilian Superintendence of Private Insurance (SUSEP) published Public Consultation Notice No 14/2025 on a draft National Council of Private Insurance (CNSP) resolution that would update the regulatory framework for reinsurance and retrocession cessions and acceptances and related intermediation, coinsurance, foreign-currency operations, and insurance contracted abroad. The proposal is part of SUSEP’s 2025 regulatory plan and is intended to align secondary regulation with Law No 15.040/2024 (the Insurance Contracts Legal Framework) and Complementary Law No 213/2025, which amended the reinsurance policy rules in Complementary Law No 126/2007. The draft would revoke and replace the current CNSP Resolution No 451/2022 and notes that operational procedures for the covered matters will be set out later by SUSEP, with the aim of replacing SUSEP Circular No 683/2022. It also adjusts concepts and provisions to reflect the legal position of insurance cooperatives and administrators of mutualist property protection operations within the supervised market, and updates rules on the formation, formalisation and performance of contracts, including flexibility of the current retrocession limit for local reinsurers subject to technical justification, the ability to contract for joint liability among coinsurers, and a prohibition on reinsurer clauses covering cooperation and claims control. The consultation is open for 20 calendar days from publication of the notice, with submissions to be made through SUSEP’s public consultation system.

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