Brazil’s Insurance Landscape: Key Developments Reshaping the Market

In our previous edition, we covered the enactment of Law No. 15,040/2024 (the “Insurance Law”) and Supplementary Law No. 213/2025 (“LC No. 213/2025”), two landmark pieces of legislation that introduced new rules for insurance contracts, reinsurance obligations, as well as the formal regulation of insurance cooperatives and mutual protection operations.

Since then, SUSEP (Brazil’s insurance regulatory authority) has been working on updating its existing regulations to align with these new frameworks, indicating that this review process will continue throughout 2026.

In this edition, we highlight recent regulatory, tax, judicial, and market developments, with a focus on their potential implications for (re)insurers, pension entities, and risk management functions.

Lefosse’s Insurance, Reinsurance, and Private Pension team closely monitors legal and regulatory developments and is prepared to advise on any issues affecting the sector. For further clarification on this topic, or any other of interest, please reach out to our professionals