IRB(Re)

IRB(Re), located in Rio de Janeiro, Brazil, is a significant player in the reinsurance market, originally established in 1939 by Getúlio Vargas to support domestic companies. It held a monopoly until 2007 when the market was opened to competition. Now operating as a private entity since 2013, IRB Brasil RE is primarily owned by major financial institutions, controlling over 90% of its capital. In 2005, it ranked as the 64th largest reinsurance company globally. The organization has faced controversy, including allegations of corruption involving prominent figures, which adds a layer of intrigue for visitors and researchers interested in Brazil's financial history.