The American Council of Life Insurers (ACLI) is part of a coalition that is asking the government of Brazil to change new reinsurance regulations.
Insurance groups from Europe, Asia and the Americas are joining to object to the new rules, according to the ACLI, Washington.
In addition to the ACLI, the list of U.S. groups that have signed a protest letter include America’s Health Insurance Plans, Washington, and several U.S. property-casualty insurer and p-c producer groups.
The groups are blasting rules issued by the National Private Insurance Council of Brazil — resolutions 224, 225 and 232.
Rule 224 would have prohibited insurers in Brazil from transferring premiums to related companies.