Galapagos Capital, a global investment company headquartered in Brazil that offers a range of investment management, banking and financial services, has received pre-authorisation from the insurance regulator SUSEP to establish an issuer of Letra de Risco de Seguro (Insurance Risk Letters), which are Brazil’s own type of insurance-linked securities (ILS).
Galapagos Capital aims to become the first independent manager to issue the Brazilian brand of insurance-linked securities (ILS).
The investment firm had been rumoured to be pursuing the registration of its own Sociedades Seguradoras de Propósito Específico (SSPE), which is the name of the specific ILS special purpose vehicle that Brazil has now regulated for.
FULL ORIGINAL PUBLICATION HERE
