IRB(Re)
“Can Brazil's incumbent reinsurer defend its market leadership by pivoting from monopoly-era balance-sheet underwriting to data-driven risk transfer (ILS, climate R&D)?”
Founded1939
HQRio de Janeiro, Brazil
IndustryFintech / Insurtech
The story
IRB(Re) is Brazil's largest reinsurer, founded 1939 as a state monopoly and privatized in 2013 before listing on B3 in 2017. It provides reinsurance coverage across all lines of business — property, liability, life — for the Brazilian insurance market. Recent strategy emphasizes market-intelligence data products (IRB+Inteligência), climate/ILS innovation (Andrina SSPE), and R&D via IRB(P&D). Not an embedded-finance provider — IRB(Re) is a traditional balance-sheet reinsurer.
Product timeline
1939
Founded as Brazil's reinsurance monopoly (IRB Brasil Re).· founding
2007
Brazilian reinsurance market opened to competition, ending IRB's monopoly.· pivot
2013
Privatized.· pivot
2017
IPO on B3 (Brazilian stock exchange).· ipo
2024
Launched IRB(P&D) research and development department focused on climate risks.· product
2024
Rebranded to IRB(Re).· pivot
2025
Andrina SSPE issued Brazil's first ILS (insurance-linked securities).· product
Regulated entities
1
regulatory licence held by IRB(Re)
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
0 layers disclosed in IRB(Re)’s embedded-finance stack
Accounting gap: none