The Brazilian Superintendence of Private Insurance, SUSEP, used a Correio Braziliense forum on economic growth and the insurance sector to outline recent legislative changes and supervisory priorities. Superintendent Alessandro Octaviani underscored the sector’s macroeconomic relevance, noting that technical provisions supervised by SUSEP represent around 17% of Brazil’s GDP, and pointed to newly approved legislation affecting insurance, including Law 15.040/2024 (General Insurance Contract Law) and Complementary Law 213/2025 covering insurance cooperatives and mutualist property protection, alongside sub-legal rules on open private pension products and transport insurance. Octaviani highlighted areas he sees as key opportunities and challenges for the sector, including revisiting the legal framework for rural insurance, addressing natural catastrophes, improving the regulation of universal life insurance, operationalising the guarantees law, and regulating the law governing the carbon market. In a panel on the judiciary and regulation, Prudential and Reinsurance Supervision Director Carlos Queiroz emphasised proportional and responsible regulation aligned with international best practices, citing Complementary Law 213/2025 as embedding proportionality in CNSP and SUSEP action based on institutions’ size, nature, risk profile and systemic relevance, and as adding consumer protection and socioenvironmental and climate sustainability to the objectives in Decree-Law 73/1966; he also referenced Open Insurance, the Operations Registration System and SUSEP’s regulatory sandbox as key innovation initiatives.

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