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Brazil Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 53 pages

Includes 3 FREE quarterly updates

BMI View: In spite of a very difficult economic environment, Brazil remains a market that is both large inabsolute terms and, in relation to the forecast period, reasonably quickly growing. We continue to forecastsolid high mid-single digit annual growth in premiums in both of the two main segments. Health insurancewill drive the expansion of the non-life segment. In the life segment, additional sales to existing clients willbe the main catalyst for growth.

Key Updates And Forecasts

- The latest results from the leading non-life companies (in relation to 2015) indicate that the slowing ofthe economy has had a limited impact on the segment. We forecast 7.0% growth in premiums in 2016.The pace of increase should be broadly similar for the remainder of the forecast period. The key driver isthe expansion of health insurance (including the offerings of the composite insurers that are regulated bySUSEP and the specialist health funds that are overseen by the ANS). Health insurance is benefiting fromgrowth in volumes, thanks to first time users, and higher prices, which can be sustained because of thehigh level of inflation. The growth of basic motor vehicle and property lines will continue to beconstrained by price competition.

- We forecast growth of 7.1% in life premiums in 2016. The growth rate should decrease slightly over thecourse of the forecast period, but will still be in mid-single digits in 2020. Many of the major life insurershave reported good increases in sales of their main products - VGBL and PGBL savings plans,Capitalização bonds, private pensions and traditional life insurance over the course of 2015. This meansthat the insurers' offerings are considered attractive by those Brazilians who can afford to buy them. Atsome stage, at least some of the life insurers should benefit from sales to large numbers of new users.However, we expect that this will happen after the end of the forecast period.

Table Of Contents

Brazil Insurance Report Q2 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) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Brazil 2013-2020) 16
Table: Non-Life Insurance Claims (Brazil 2009-2014) 17
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums By Product Line (Brazil 2013-2020) 26
Industry Risk Reward Ratings 28
Latin America Insurance Risk/Reward Index 28
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q216 29
Market Overview 30
Life Market Overview 30
The Product Offering 30
The Competitive Landscape 30
Table: Life Insurance Market (USDmn) 2006-2011 32
Non-Life Market Overview 33
The Product Offering 33
The Competitive Landscape 34
Company Profile 36
Bradesco Seguros 36
BB Seguridade Participações SA 38
Itaú Seguros 41
Porto Seguro 43
SulAmerica 45
Methodology 47
Industry Forecast Methodology 47
Risk/Reward Index Methodology 50
Table: Indicators 52
Table: Weighting of Indicators 53

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