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This qualitative research on the Brazilian reinsurance market presents the strategically shaping of five local reinsurers operating in Brazil after the deregulation of this market. The method used showed two strategic groups (SGs): one formed by local reinsurers with endogenous activity, and another formed by Brazilian Institute of Reinsurers (IRB in Portuguese language acronym) in a set with local reinsurers with exogenous activity. The theoretical contribution lies in the surprise represented by the fact that IRB, despite its specific and differentiated historical configuration from the other analyzed players, did not form a SG, which allows speculation about a possible review on the influence of apparently strong internal organizational factors, such as corporate culture, on strategy settings.

GRUPOS ESTRATÉGICOS NA INDÚSTRIA DE RESSEGUROS BRASILEIRA: UMA VISÃO DE SUA FORMAÇÃO INICIAL