Normas de solvencia consolidadas:
The Superintendence of Private Insurance (SUSEP) is an autarchy created by the Decree-law #73/66 directly linked to Ministry of Finance. It is the executive body of the politics delineated by the CNSP and is also the insurance commissioner, responsible for the supervision and control of the insurance, open private pension funds and capitalization markets in Brazil. Aiming towards the consonance with international standards, the strengthening of the public’s confidence in the system and the development of a sound insurance market, SUSEP has been engaged in the modernization of supervisory and regulatory procedures.
SUSEP is managed by a Managing Council formed by the Superintendent, appointed by the Minister of Finance, and four Directors. This Council, whose chairman is the Superintendent, has authority to establish SUSEP’s general policies for the regulation and compliance with CNSP’s resolutions by enacting rules within its area of competence.
However, SUSEP’s supervisory authority does not cover all segments of the insurance, reinsurance, private pension and capitalization industry: the ANS - National Agency of Supplementary Health is the supervisory authority for the health insurance and the PREVIC – National Superintendence of Complementary Pensions supervises the closed private pension funds.
The Brazilian Private Insurance National System, regulated by the Decree-law #.73, of November 21st, 1966, is constituted by:
• the National Council of Private Insurance (CNSP);
• the Superintendence of Private Insurance (SUSEP);
• the Reinsurance Companies;
• the Insurance Companies; and
• the Insurance Brokers.
The National Council of Private Insurance – CNSP – is the system’s deliberative body and responsible for the settlement of the Brazilian Government policies’ guidelines and directives for insurance and capitalization companies and open private pension entities in Brazil.
The Chairman of the Council is the Minister of Finance or his representative, usually SUSEP’s Superintendent, who is also the Vice-Chairman. Representatives from the Central Bank, Ministry of Justice, Ministry of Social Security and Brazilian Securities Exchange Commission (CVM) also have a seat at the Council.
In this way, SUSEP plays a key role within CNSP, since all the rules issued by the Council are elaborated by SUSEP and have its prior approval.