Capsicum Re bolsters Brazil operations with two hires

Specialist reinsurance broker Capsicum Re has expanded its Brazil operations with the appointment of Marcio Ribeiro as head of the facultative division based in Sao Paulo, and Júlia Nunes as head of operations, based in Rio de Janerio.

Both Ribeiro and Nunes will report to Luiz Araripe, CEO of Capsicum Re Latin America (CRLA) Brazil.

Ribeiro has over 20 year of experience in reinsurance, having most recently served as director for facultative business at Guy Carpenter.

Prior to this he served as a client manager for Swiss Re Brazil.

Júlia is a qualified actuary and joins from Aon Benfield Brazil, where she She spent the last six years as both a treaty broker and a junior actuary in the analytics team.

Joe Smith, CEO of CRLA, said: “Brazil, along with the rest of Latin America, is an attractive and rapidly evolving market that presents a wealth of opportunities for our industry. Marcio and Júlia are excellent additions to our team; their knowledge and experience of the Brazilian market will ensure we are well placed to provide our customers with bespoke products and solutions.”