My brother was hanging out with my fiancée's ex like they were cousins.

When we accidentally saw my fiancé’s ex at an event, my brother suddenly started acting as if he knew him. It turns out they’ve known each other from a distance since childhood, but they haven’t spoken. While I was still processing this, my brother tried to joke around with my fiancé’s ex and act like he was someone we knew. My fiancé was silent, but I was pretty tense. What should one do in a situation like this? Should I ignore it or talk to my brother? Have I been too sensitive?