IRB - Brasil Resseguros S.A.

IRB - Brasil Resseguros S.A., also known as IRB(Re), is a leading Brazilian reinsurer known for handling complex national risks. In 2024, local reinsurers like IRB managed 54.5 percent of Brazil’s reinsurance premium transfers.

History of IRB - Brasil Resseguros S.A.

Formerly known as Instituto de Resseguros do Brasil, the firm was founded in 1939 to retain domestic risks. It began as a state-backed monopoly, reinsuring Brazilian companies that once relied on foreign players.

In 1996, it became a government-controlled private company and was renamed IRB - Brasil Resseguros S.A. Here are other important milestones in the company’s history:

• 2007: Brazil’s reinsurance market opened, ending IRB’s 69-year monopoly
• 2013: IRB Brasil RE was privatized and no longer state-controlled
• 2017: IRB went public and was ranked 8th globally by market value
• 2019: raised BRL10 billion in follow-ons on the Brazilian stock exchange
• 2022: ranked 36th globally among top reinsurers by AM Best
• 2023: rebranded as IRB(Re) to reflect new values and positioning

The company later focused on fixing internal issues and reshaping its public image. These efforts led to new governance, stronger risk controls, and a clearer market focus.

Reinsurance products and services

With strong experience and credibility, IRB - Brasil Resseguros S.A. offers reinsurance for all major risks:

• casualty: covers liability claims from construction, industries, and professionals like doctors and engineers
• cargo and marine: protects cargo by air, sea, and land, including ships, ports, and logistics
• agricultural risks: insures agribusiness, machinery, farm storage, and supports start-ups and bancassurance
• property: offers coverage for property loss, fire, storm damage, and business interruption
• life and health: includes coverage for serious illness, air crashes, and catastrophe support services
• oil and gas: handles exploration, production, and large energy risks in global projects
• financial lines: reinsurance for D&O, cyber, crime, BBB, and related executive protection risks
• surety: backs public and private guarantees using market knowledge and legal insight
• mortgage: protects homebuyers and lenders by covering property risks and loan repayment failures

IRB - Brasil Resseguros S.A. supports its work with IRB+Inteligência, a tool for dynamic market research. It helps reinsurers and analysts explore Brazil’s insurance history using Susep’s official data platform.

Culture and core values

IRB(Re) is grounded in people, knowledge, capital, structure, and the power of resilience. It offers protection and security through services that reflect its commitment to society’s future.

Workplace environment and benefits

The company builds a culture where teams lead change through knowledge and long-term purpose. Its environment supports professionals proud to be protagonists in shaping business and protecting society:

• team skill-building and leadership training
• career growth and performance-based recognition
• hiring top professionals from the reinsurance market
• strong rewards and benefit offerings
• inclusive and engaging work atmosphere

IRB - Brasil Resseguros S.A. made its Great Place to Work seal official in 2024. This recognition confirms its promise to offer an inclusive, transparent, and inspiring space for all.

IRB(Re) sponsorships

The company supports inclusive access to arts, wellness, and learning for all generations. Its sponsored projects drive social change through cultural, health, and sports development across Brazil:

• sports and revitalization: Sem Barreiras project and Museum of Tomorrow sponsorship
• scientific research: support for Cancer Foundation studies on leukemia and lymphoma treatment
• medical innovation: Oswaldo Cruz Foundation’s leukemia therapy research sponsorship
• performing arts: Teatro Renault’s production of O Fantasma da Opera in São Paulo
• cultural experience: Shell Open Air SP, the world’s largest open-air cinema event

IRB - Brasil Resseguros S.A. supports sports, science, and the arts with pride and purpose. These efforts combine insight with respect for Brazil’s social and cultural strength.

Social actions

Alongside its ESG work, IRB(Re) supports people in social vulnerability across Rio. Its volunteer projects include food drives, guided museum tours, and school kit donations. It also funds health efforts and promotes sports in under-resourced communities.

In 2020, IRB donated BRL 1 million to Fiocruz’s Covid-19 emergency research project. From 2016 to 2018, its Volunteer Program helped over 1,500 people in need. In 2021, it backed Projeto Sem Barreiras and delivered 1.5 tons of food.

The future at IRB - Brasil Resseguros S.A.

IRB(Re) closed Q1 2025 with $118.6 million in net profit, up 50 percent. It maintained a 98 percent combined ratio in non-life and managed $8.9 billion in assets. Stronger results under IFRS 17 reflect smarter underwriting and a focus on future profitability.

IRB - Brasil Resseguros S.A.’s recent sustainability report shows progress in ESG, innovation, and risk governance. It aligns with global standards while responding to growing environmental threats and reinsurance gaps in Brazil. It is strengthening internal controls and improving how it monitors climate-related risks.