After working with Gálapagos Capital SSPE on a recent R$126 million offering of Insurance Risk Letters (LRS), Avla Brazil CEO Felippe Astrachan has said that LRS opens a door that allows the company to explore different types of risks that are not traditionally covered by the insurance and reinsurance market, while also remaining optimistic about the future of the expanding Brazil ILS regime.
As we reported on May 26th, Gálapagos Capital SSPE successfully issued a R$126 million offering of LRS which is the first broadly distributed LRS arrangement since Brazil enacted its ILS regulations and activity commenced.
On this particular transaction, Gálapagos Capital collaborated with Avla Seguros, one of the top five financial lines insurance groups in Latin America, operating in Chile, Peru, Mexico, Brazil, and the USA.
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