Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 197

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 197
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 funds of insurance companies, capitalization companies, EAPCs and local reinsurers, and the investment of resources required in Brazil to guarantee the obligations of reinsurers admitted and on the portfolio of Individual Scheduled Retirement Funds (FAPI), later amended by CMN Resolution No. 5,016/22. In turn, CNSP enacted CNSP Resolution No. 432/21, later amended by CNSP Resolution No. 448/22 and Resolution No. 453/22, revoking Resolution No. 321/15, which, among various subjects, also regulates the investments by insurance companies, EAPCs, capitalization companies and local reinsurers.
 Currently, CNSP Resolution No. 349/17 and CNSP Resolution No. 348/17, SUSEP Circular No. 563/17 and SUSEP Circular No. 564/17, all amended by Circular No. 585/19, CNSP Resolution No. 458/22, SUSEP Circular No. 685/22 and Supplementary Law No. 109/01, regulate the Pension Plan activity.
 
4.B.70.03-05 Reinsurance
 Insurance companies must operate with reinsurers registered with SUSEP, and may, exceptionally, contract out reinsurance or retrocession operations to unauthorized reinsurers to operate in Brazil, when local and foreign reinsurers lack sufficient capacity.
 Currently, pursuant to Decree No. 10,167/19, Brazilian law provides that the insurance companies or the cooperative society may concede to occasional reinsurers up to 95% of premiums ceded in reinsurance, based on the totality of its operations in each calendar year. In the same way, the local reinsurer may also concede up to 95% of the premiums issued relating to risks they have underwritten, also calculated on the basis of the totality of its operations in each calendar year. It is worth noting that some lines or insurance modalities may have greater or lesser restrictions on the percentages of premiums that may be ceded in reinsurance.
  
119 – Form 20-F 2024 | Bradesco
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The regulation of SUSEP established a minimum compulsory contracting of 15% of the reinsurance ceded, with Brazilian reinsurance companies. In addition, it provided a limit to certain lines of up to 75%, so that a Brazilian-based insurer or reinsurer could transfer risks to related or foreign-based companies belonging to the same financial conglomerate. These limits were revoked when CNSP Resolution