Susep Halts Facta Seguradora and Registers a Chinese Reinsurer
BRAZIL · INSURANCE
Key Facts
- —The measure Susep adopted a precautionary order against Facta Seguradora on 9 September.
- —What it does Suspends the sale of new insurance contracts and removes director Everton Francisco da Rosa.
- —And the broker The registration of Facta Corretora de Seguros was suspended alongside it.
- —The grounds Indications of irregularities in how policies were sold and contracted, including consent and issuance, and weaknesses in governance.
- —The same day Susep registered CNPC Captive Insurance Company, a Chinese entity, as an occasional reinsurer under Portaria 163 of 2026.
- —Also registered Continental Casualty Company of the United States.
One regulator, one day, two decisions pointing in opposite directions: a domestic insurer stopped from selling, and a Chinese reinsurer let in.
Brazil’s insurance regulator suspended new sales at Facta Seguradora on Wednesday and, in a separate action the same day, registered a Chinese reinsurer to operate in the Brazilian market.
The Facta Order
Susep adopted a medida cautelar against Facta Seguradora on 9 September. It suspends the sale of new insurance contracts, removes director Everton Francisco da Rosa from his post, and suspends the registration of Facta Corretora de Seguros.
The stated grounds are indications of irregularities in policy sales and contracting, specifically around consent and improper issuance, together with governance weaknesses.
A precautionary measure is not a finding. It is a regulator stopping an activity while it examines what has been happening, and the underlying process continues.
The Reinsurer
On the same day, under Portaria 163 of 2026, Susep registered CNPC Captive Insurance Company, an entity constituted under Chinese law, as an eventual reinsurer. It registered Continental Casualty Company of the United States in the same act.
An eventual reinsurer is the lightest of the three categories in Brazilian reinsurance registration. It carries the tightest limits on the share of Brazilian cedents’ risk it may assume, which is the point of the category.
Some coverage has described this as the first Chinese reinsurer ever authorised in Brazil. The Rio Times has not been able to confirm that claim and does not make it. What is confirmed is the registration itself.
Two Different Signals
The Facta order is about conduct at the point of sale, which is where Brazilian insurance supervision has been concentrating for several years. Consent and improper issuance are the recurring complaints.
The reinsurance registration is about capacity. Brazil’s reinsurance market was opened in stages after 2007 and has been steadily widening the pool of registered foreign capital since.
A Chinese captive appearing on that list is a modest technical event and a slightly larger directional one, given how much Chinese industrial and infrastructure exposure now sits inside Brazil.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
What did Susep do to Facta?
Adopted a precautionary order on 9 September suspending new insurance sales, removing a director and suspending the broker’s registration.
Why?
Indications of irregularities in policy sales and contracting, including consent and improper issuance, plus governance weaknesses.
Which reinsurer was registered?
CNPC Captive Insurance Company, a Chinese entity, as an eventual reinsurer under Portaria 163 of 2026, alongside Continental Casualty Company of the United States.
Is it the first Chinese reinsurer in Brazil?
That has been reported but The Rio Times could not confirm it. The registration itself is confirmed.
What is an eventual reinsurer?
The lightest of Brazil’s three reinsurance registration categories, with the tightest limits on the share of ceded risk it may assume.
Sources: Revista Apolice, CQCS, Susep.
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