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  4. > Brazil Insurance Report Q4 2016

Brazil Insurance Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 57 pages

Includes 3 FREE quarterly updates



BMI View:
Brazil's insurance industry has continued to grow despite the combined effects of low economicgrowth and high inflation on the country's wider financial services sector. The core drivers of growth overrecent years have been the expansion of the middle class, combined with an ageing population which,together, have supported demand for personal insurance products, such as life, health and motor insurance.We also noted a growing tendency towards savings and investment activity in the life insurance sector. Fora country of its size, insurance penetration and density have remained relatively low, allowing forconsistently high levels of premium growth over recent years, though this has also been due, in part, to highinflationary pressures. As the country's economic downturn begins to bottom out, we see opportunities forinvestors and new entrants over the next few years. Brazil's composite insurers (many of which aresubsidiaries of banking groups), have become increasingly amenable to mergers and partnerships withoverseas firms as they look to shore up their balance sheets, and we expect to see merger and acquisitionactivity increasing over the coming months.

Key Updates And Forecasts


- In May 2016, French insurance group AXA said it was considering making further acquisitions as itlooks to extend its footprint in Brazil's insurance market. The company, which entered the country in2013, is targeting premiums of BRL500mn in 2016.

- In April, state-owned financial services group Caixa Econômica Federal revoked plans for an initialpublic offering (IPO) if its insurance unit due to adverse capital market conditions. The bank had beenexpected to sell 25% of the company with a view to raising BRL11.3bn.

Table Of Contents

Brazil Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Brazil 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Brazil 2013-2020) 12
Table: Life Insurance Claims (Brazil 2008-2014) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Brazil 2013-2020) 17
Table: Non-Life Insurance Claims (Brazil 2009-2014) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Brazil 2013-2020) 28
Insurance Risk/Reward Index 30
Latin America Insurance Risk/Reward Index 30
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q416 31
Market Overview 32
Life Market Overview 32
The Product Offering 32
The Competitive Landscape 32
Table: Life Insurance Market (USDmn) 2011-2013 34
Non-Life Market Overview 35
The Product Offering 35
The Competitive Landscape 37
Table: Non-Life Insurance Market (USDmn) 2012-2015 38
Company Profile 39
Bradesco Seguros 39
BB Seguridade Participações SA 42
Itaú Seguros 44
Porto Seguro 46
SulAmerica 49
Methodology 51
Industry Forecast Methodology 51
Risk/Reward Index Methodology 54
Table: Indicators 56
Table: Weighting of Indicators 57

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