PartnerRe has announced that its subsidiary, Partner Reinsurance Europe Ltd., has been given the green light by Brazilian reinsurance authority SUSEP to operate as an admitted reinsurer in the country.

The announcement follows PartnerRe's decision in April to establish a representative office in Sao Paulo, underlining its commitment to the growing Latin American Market.

PartnerRe president and chief executive officer Patrick Thiele said: "We are very pleased to have this final approval from the Brazil reinsurance authority. As an admitted reinsurer we will be in an even better position to serve our Brazil-based clients with our capacity and expertise."