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Brazil's insurance market faces continued headwinds going into H215.
A challenging economicoutlook that includes a forecast contraction in GDP, rising interest rates and weakening real threaten toundermine growth in both life and non-life insurances lines.
The situation will be accentuated by the factthat a number of insurance segments are already quite mature, with these markets typified by a relativelyhigh level of penetration and considerable competition between providers.
That said, a large and growingpopulation will continue to offer some opportunities for insurers over the medium term, particularly in somenon-core markets.Brazil's insurance sector is relatively developed by the standards of the majority of emerging markets, withthe country's well-developed financial services infrastructure.
Indeed, the country's banks already accountfor about 40% of all insurance sales in Brazil, giving the industry a head-start over other countries in termsof the extension of bancassurance and other distribution methods.
Leading providers of insurance productsinclude Banco do Brasil and Brradesco.
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