Insurance Cooperatives and Mutual Societies in Brazil: Major Changes on the Brink of Presidential Sanction

The Bill of Law No. 143/2024, currently awaiting presidential sanction, represents a landmark development for the insurance market in Brazil. It aims to legalize the operations of mutual societies for asset protection and expand the operations of insurance cooperatives to almost all business lines. This legislative milestone opens the door to opportunities for new players, reinsurers, (re)insurance brokers, fostering innovation and growth within the sector.

Check out the main changes with the sanction of the law.

For further questions, our Insurance and Reinsurance team is available.