At the end of March, our partners Roberto Panucci and Daphne Minerbo were in Lugano, Switzerland, at the invitation of Voasan Corp, for the 2026 International Immersion, a gathering of Brazilian insurance and asset protection executives for technical visits, panels and discussions on the direction of the market.
The panel led by Roberto Panucci addressed the topic now at the center of Brazil's regulatory agenda in the sector: the future of Mutual Asset Protection (APPM) after Complementary Law (LC) 213/2025 and the business models available for current protection associations to reorganize under SUSEP's new regulatory framework.
Among the topics discussed:
▪️ The four possible routes: remaining an association plugged into authorized administrators, migrating to the MGA (Managing General Agent) model, forming an insurance cooperative or structuring a specialized insurer, and the regulatory, corporate and capital trade-offs of each path.
▪️ The adaptation period is shorter than it seems. The 24-month window under LC 213 is, in practice, consumed by the cycle of governance, systems, fiduciary accounting, minimum capital and approval by SUSEP. The strategic decision needs to be made now.
▪️ A structural opportunity. A significant part of Brazil's vehicle fleet is covered by vehicle protection; the orderly migration of associations to regulated models is a significant driver of broader access, provided it is built on consistent technical, accounting and solvency foundations.
Following the immersion, the panel's content was explored in greater depth in an episode of the eProteção Podcast, now available on YouTube, dedicated exclusively to the transition of associations under LC 213/2025. 🎧 Full episode: https://lnkd.in/duCDr2im
We have closely followed every stage of the implementation of LC 213/2025 - from structuring MGAs and cooperatives to the authorization process for specialized insurers before SUSEP - and remain available to the market to discuss the most suitable paths for each operation.
We thank Luis Felipe Pinto for the invitation and Rômulo Gusmão for the coverage.
