On December 22, 2025, the Brazilian Superintendence of Private Insurance (“SUSEP”) published SUSEP Resolution No. 72/2025 in the Federal Official Gazette, approving the 2026 regulatory plan.
The resolution outlines SUSEP’s regulatory priorities for 2026, aligning with institutional goals and available resources. The topics were divided into two categories:
- Priority 1 (“P1”): gathers the central and strategic issues of the 2026 regulatory agenda.
- Priority 2 (“P2”): encompasses topics that will be addressed in line with the available time and resources, but which are not considered in determining SUSEP’s institutional goals.
Priority 1
Among the numerous topics classified as Priority 1, we highlight the continuity of the regulatory process for Law No. 15,040/2024 and Complementary Law No. 213/2025, including, for example, adjusting the regulations that currently provide for, among other things:
- The principles governing the conduct of insurance companies, capitalization companies, open supplementary pension entities, and intermediaries, with regard to customer relations (CNSP Resolution No. 382/2020).
- Registration, suspension, cancellation, and rejection of products with SUSEP (SUSEP Circular No. 708/24).
- General characteristics for the operation of individual insurance risk coverage plans (CNSP Resolution No. 439/2022 and SUSEP Circular No. 667/2022).
- Rules and criteria governing the operation of survivor coverage plans (CNSP Resolution No. 464/2024 and SUSEP Circular No. 699/2024).
- Rules and criteria for structuring, commercializing, and operating the Universal Life Insurance (CNSP Resolution No. 484/2025).
- The regulation of reinsurance operations (SUSEP Circular No. 683/2022).
- Surety bond insurance (SUSEP Circular No. 662/2022).
Additionally, the plan includes a review of capitalization regulations, studies, and regulatory proposals on compulsory insurance, catastrophe insurance, the regulatory sandbox, open insurance, and mutual asset protection.
It is worth highlighting the initiatives aimed at improving prudential rules, governance, conduct, and the prevention of money laundering and terrorist financing, thus reinforcing SUSEP’s commitment to the integrity and stability of the supervised market.
Within the scope of the prudential and accounting sphere, the 2026 regulatory plan includes measures aimed at strengthening the solvency of supervised companies, improving the regulation of guaranteeing assets and technical provisions, reviewing capital rules, carrying out studies on sustainability, and disclosing financial information in line with international standards.
Priority 2
Priority 2 issues encompass:
- The revision of specific regulations pending adaptation to Law 15,040/2024 – particularly SUSEP Circular No. 637/2021, which regulates civil liability insurance.
- Improving the rules on corporate governance, auditing, services outsourcing, the sanctions regime, and prudential supervision procedures.
Although they are not at the center of the agenda, these issues can be the subject of analysis and development as regulatory requirements unfold and resources become available.
The plan is available for public consultation on SUSEP’s website (2026 Regulatory Plan), including information on all planned deadlines and institutional goals.
Demarest’s Insurance, Reinsurance, Private Pension, and Supplementary Health is monitoring the topic and remains available to clarify any questions or concerns.
