Ratings

Rio de Janeiro, March 6, 2020 – IRB-Brasil Resseguros SA (B3: IRBR3) ("IRB Brasil RE" or "Company") hereby announces to the market and its shareholders that, in a report released today, A.M. Best Rating Services (“AM Best”) has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of the Company.

According to the AM Best Press Release, the rating actions follow the resignations presented by the IRB's CEO and CFO on March 4, 2020. Also in the same Press Release, AM Best stated that a rating action to remove the under review with negative implications status is the successful management transition, while maintaining the Company’s existing levels of risk-adjusted capitalization and operating performance as well as any potential impact on the Company’s business profile.

AM Best is a global credit rating agency with a unique focus on the insurance and reinsurance industry.

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