Brazilian insurance regulator Susep has registered Japanese insurance group Tokio Marine as an eventual reinsurer, the regulator reported in government newspaper Diário Oficial da União.
In May, the group had said it was considering entering under either eventual or admitted status.
The law to open Brazil's reinsurance market in April created three categories of reinsurers: local reinsurers incorporated in Brazil and dedicated solely to reinsurance; admitted reinsurers incorporated outside Brazil but with representative offices in the country; and occasional reinsurers incorporated outside Brazil and without local offices.
In its global operations, Tokio Marine had 17.4tn yen (US$164bn) in total assets at end-June.
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