SAO PAULO, MAY 20, 2026—Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker, is pleased to announce the full deployment of its advisory and structuring capabilities through locally licensed Special Purpose Securitization Entities (SSPE) dedicated to Brazil's Letra de Risco de Seguro (LRS) market.
Rodrigo Botti, Country Head Brazil, Lockton Re, said "Brazil has built one of the most thoughtfully designed ILS regulatory frameworks in the world. The domestic LRS market builds on existing global structures, bringing global governance standards, while at the same time creating innovation designed for Brazil's market realities. Lockton Re colleagues have been at the table since at least 2023, and we are proud to now offer the full spectrum of services — from structuring and regulatory advisory to investors — to help this market reach its extraordinary potential."
Lockton Re is delivering pioneering local ILS structuring expertise, leadership, and a ready-to-deploy Brazilian SSPE to unlock the LRS market for Brazilian cedants and institutional investors, supported by full reinsurance structuring capabilities of Lockton Re. The announcement coincides with the 9th Encontro de Resseguro do Rio de Janeiro (May 19–20, 2026), Latin America's most important reinsurance forum, where Lockton Re's leadership will be presenting on the transformative potential of LRS for Brazil's insurance ecosystem.
A First-Mover Advantage
Lockton Re is working closely with an independent Brazilian-licensed SSPE — the local special purpose vehicle required to structure and issue LRS instruments. This gives Lockton Re a clear path to advise cedants wishing to tap domestic LRS transactions and avoids incurring months-long setup processes that other market entrants face. As a result, Lockton Re's clients can move from mandate to issuance with unprecedented speed. The platform supports a wide range of triggers including indemnity, parametric, and index-based structures across multiple perils — from agribusiness and infrastructure to climate catastrophe and regulatory capital relief.
Dario Luna, Lockton Re, Latin America & Caribbean, concludes, “Having structured Mexico's catastrophe bond program and worked across the parametric insurance landscape in Latin America for many years, I can say with confidence that Brazil's LRS is the most robust regulatory architecture for ILS in Latin America. Our team is now ready to deliver competitive ILS solutions for new cedants and support them in their journey as the market matures.”