On the foreign scene, Reinsurer, IRB Brasil Resseguros SA has exercised a put option to sell its stake in African Reinsurance Corp, known as Africa Re, the company said in a securities filing on Tuesday.

The Brazilian reinsurer said the 8.4 percent stake in Africa Re was valued at around $62 million. The put option agreement was signed when IRB Brasil first invested in Africa Re, in 2012. (Reporting by Tatiana Bautzer; Editing by Cynthia Osterman)

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