Profit at reinsurer IRB Brasil triples as investment income jumps
Net income at Instituto de Resseguros do Brasil, the largest Latin American reinsurer, almost tripled in the first quarter in the wake of rising borrowing costs in Brazil that spurred a jump in investment income.
The Rio de Janeiro-based reinsurer, known as IRB Brasil RE, earned 130 million reais ($42 million) in the quarter, according to a statement read more
AM Best financial strength
attests IRB Brasil RE
We inform our customers and partners, for the fourth consecutive year, the IRB Brasil RE had A- credit rating (excellent) with stable outlook for next year.